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MS HB841
Bill
Status
Failed
2/3/2026
Primary Sponsor
Justin Crosby
Click for details
AI Summary
- Creates the Mississippi Workforce Innovation Performance Loan Fund in the State Treasury, administered by the Mississippi Development Authority (MDA) in coordination with the Department of Employment Security
- Provides zero-interest loans ranging from $250,000 to $1,000,000 per project for workforce training initiatives to community colleges, universities, nonprofit training organizations, and public-private partnerships
- Establishes performance-based loan forgiveness tied to employment placement rates: 80% or greater placement results in 100% forgiveness, 70-79% placement results in partial forgiveness, and below 70% placement requires full repayment
- Loan proceeds may fund curriculum development, equipment, instruction, credentialing, and related program expenses, with outcomes verified through wage records or employer confirmation
- Takes effect July 1, 2026, with unexpended funds rolling over annually rather than lapsing to the General Fund
Legislative Description
Mississippi Workforce Innovation Performance Loan Fund; establish.
Last Action
Died In Committee
2/3/2026
Committee Referrals
Workforce Development1/16/2026
Full Bill Text
No bill text available