House Bill 1444

AN ACT TO AMEND SECTION 25, CHAPTER 533, LAWS OF 2010, AS AMENDED BY SECTION 4, CHAPTER 30, LAWS OF 2010 SECOND EXTRAORDINARY SESSION, AS AMENDED BY SECTION 1, HOUSE BILL NO. 403, 2011 REGULAR SESSION, TO INCREASE BY $40,000,000.00 THE AMOUNT OF BONDS AUTHORIZED TO BE ISSUED FOR THE MISSISSIPPI INDUSTRY INCENTIVE FINANCING REVOLVING FUND; TO AMEND SECTION 57-61-25, MISSISSIPPI CODE OF 1972, TO INCREASE FROM $323,100,000.00 TO $328,900,000.00 THE AMOUNT OF GENERAL OBLIGATION BONDS THAT MAY BE ISSUED UNDER THE MISSISSIPPI BUSINESS INVESTMENT ACT; TO AMEND SECTION 57-61-36, MISSISSIPPI CODE OF 1972, TO INCREASE FROM $32,500,000.00 TO $37,500,000.00 THE AMOUNT OF BOND PROCEEDS THAT THE MISSISSIPPI DEVELOPMENT AUTHORITY MAY USE UNDER THE MISSISSIPPI BUSINESS INVESTMENT ACT TO MAKE LOANS OR GRANTS TO COUNTIES AND MUNICIPALITIES THROUGH AN EQUIPMENT AND PUBLIC FACILITIES GRANT AND LOAN FUND TO AID IN INFRASTRUCTURE-RELATED IMPROVEMENTS, THE PURCHASE OF EQUIPMENT AND IN THE PURCHASE, CONSTRUCTION OR REPAIR AND RENOVATION OF PUBLIC FACILITIES; TO INCREASE FROM $750,000.00 TO $1,550,000.00 THE AMOUNT OF BOND PROCEEDS THAT THE MISSISSIPPI DEVELOPMENT AUTHORITY MAY USE UNDER THE MISSISSIPPI BUSINESS INVESTMENT ACT FOR THE PURPOSE OF MAKING PAYMENTS TO LOAN LOSS RESERVE ACCOUNTS ESTABLISHED AT FINANCIAL INSTITUTIONS THAT PARTICIPATE IN THE CAPITAL ACCESS PROGRAM ESTABLISHED BY THE AUTHORITY; TO AUTHORIZE THE ISSUANCE OF GENERAL OBLIGATION BONDS IN THE AMOUNT OF $2,000,000.00 TO PROVIDE FUNDS FOR THE MISSISSIPPI RURAL IMPACT FUND; TO AUTHORIZE THE ISSUANCE OF GENERAL OBLIGATION BONDS IN THE AMOUNT OF $10,000,000.00 FOR THE MISSISSIPPI EXISTING INDUSTRY PRODUCTIVITY LOAN FUND; TO AUTHORIZE THE ISSUANCE OF STATE GENERAL OBLIGATION BONDS IN THE AMOUNT OF $10,000,000.00 TO PROVIDE FUNDS FOR THE ACE FUND; TO AMEND SECTION 57-1-18, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT TWENTY PERCENT OF ANY MONIES DEPOSITED INTO THE SMALL MUNICIPALITIES AND LIMITED POPULATION COUNTIES FUND ON OR AFTER JULY 1, 2011, SHALL BE USED TO MAKE GRANTS TO SMALL MUNICIPALITIES WITH A POPULATION OF 2,000 OR LESS; TO PROVIDE THAT GRANTS MADE TO A SMALL MUNICIPALITY FROM SUCH MONIES SHALL NOT EXCEED $50,000.00 DURING ANY GRANT PERIOD ESTABLISHED BY THE MISSISSIPPI DEVELOPMENT AUTHORITY; AND FOR RELATED PURPOSES.

In the House of Representatives

• Percy W. Watson

  Sponsor

l9n doesn't hold this bill's text yet.

In the House of Representatives Feb 2 – Feb 23

1. Feb 2Referred to the House committee on Ways and Means
2. Feb 23Died in committee in the House