MS HB4040

Authorizes issuance of up to $5,000,000 in state general obligation bonds to fund the Mississippi Agriculture and Timber Economic Development Fund, with bonds to be issued before July 1, 2030, and mature within 25 years

Creates the Mississippi Agriculture and Timber Economic Development Fund as a special treasury fund administered by the Mississippi Development Authority to recruit agriculture and timber economic development projects that expand markets for Mississippi commodities

Directs a portion of state sales tax revenue from retail sales of farm tractors, parts, repair labor, and farm implements (taxed at 1.5% under Section 27-65-17) to be deposited into the new economic development fund

Requires the Mississippi Development Authority to submit annual reports by December 1 to the Governor, Secretary of the Senate, and Clerk of the House detailing program expenditures and economic impact

Bonds issued are tax-exempt general obligations backed by the full faith and credit of Mississippi, with proceeds restricted to program purposes and bond issuance costs