House Bill 1609

AN ACT TO CREATE THE GROCERY STORE DEVELOPMENT LOAN PROGRAM ACT; TO PROVIDE DEFINITIONS FOR THIS ACT; TO CREATE THE GROCERY STORE DEVELOPMENT LOAN PROGRAM FUND; TO REQUIRE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO ESTABLISH A PROGRAM TO MAKE LOANS TO PERSONS, CORPORATIONS, MUNICIPALITIES, COUNTIES AND OTHER ENTITIES TO CONSTRUCT NEW GROCERY STORES THAT SELL NONPROCESSED PROTEIN AND FRESH PRODUCE IN UNDERSERVED AREAS OF THE STATE; TO REQUIRE THAT ANY GROCERY STORE RECEIVING A LOAN FROM THE PROGRAM BE OPEN FOR OPERATION NOT LATER THAN DECEMBER 31, 2017; TO REQUIRE PERSONS, CORPORATIONS, MUNICIPALITIES, COUNTIES AND OTHER ENTITIES DESIRING TO RECEIVE A LOAN UNDER THE PROGRAM TO SUBMIT AN APPLICATION TO THE MISSISSIPPI DEVELOPMENT AUTHORITY CONTAINING SPECIFIC INFORMATION REGARDING THE PROPOSED GROCERY STORE DEVELOPMENT PROJECT; TO REQUIRE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO REVIEW THE APPLICATION AND DETERMINE IF IT QUALIFIES AS A GROCERY STORE DEVELOPMENT PROJECT UNDER THIS ACT; TO PROVIDE THAT IF THE PROPOSED PROJECT QUALIFIES UNDER THIS ACT, THE MISSISSIPPI DEVELOPMENT AUTHORITY SHALL ISSUE A CERTIFICATE DESIGNATING THE APPLICANT AS AN APPROVED PARTICIPANT AND AUTHORIZING THE APPROVED PARTICIPANT TO RECEIVE A LOAN FROM THE PROGRAM; TO PROVIDE THAT IF THE APPROVED PARTICIPANT IS NOT THE GROCERY STORE OPERATOR, THE APPROVED PARTICIPANT AND THE GROCERY STORE OPERATOR SHALL ENTER INTO AN AGREEMENT ABOUT THE USE OF THE FUNDS FROM THE LOAN; TO PROVIDE FOR THE MAXIMUM AMOUNT OF A LOAN THAT MAY BE MADE TO ANY APPROVED PARTICIPANT FROM THE PROGRAM; TO PROVIDE THAT AN APPROVED PARTICIPANT THAT RECEIVES A LOAN FROM THE PROGRAM IS OBLIGATED FOR THE FULL REPAYMENT OF THE LOAN; TO PROVIDE ASSISTANCE WITH THE REPAYMENT OF THE LOANS BY GIVING THE GROCERY STORE OPERATORS A REBATE OF 80% OF THE AMOUNT OF SALES TAX REVENUE COLLECTED FROM THE OPERATION OF THE GROCERY STORE DEVELOPMENT PROJECT; TO PROVIDE THAT THE AGGREGATE AMOUNT OF THE REBATES THAT A GROCERY STORE OPERATOR MAY RECEIVE SHALL NOT EXCEED 30% OF THE APPROVED PROJECT COSTS INCURRED BY THE APPROVED PARTICIPANT FOR THE GROCERY STORE DEVELOPMENT PROJECT; TO PROVIDE THAT THE REBATES WILL END ON THE EARLIER OF THE DATE THAT AN AGGREGATE AMOUNT OF 30% OF THE APPROVED PROJECT COSTS INCURRED BY THE APPROVED PARTICIPANT FOR THE GROCERY STORE DEVELOPMENT PROJECT HAS BEEN PAID TO THE GROCERY STORE OPERATOR, OR 10 YEARS AFTER THE DATE THE GROCERY STORE OPENS FOR COMMERCIAL OPERATION; TO AUTHORIZE GROCERY STORE OPERATORS TO ENTER INTO AGREEMENTS WITH THE MUNICIPALITY OR COUNTY IN WHICH THE GROCERY STORE DEVELOPMENT PROJECT WILL BE LOCATED TO ALLOCATE UP TO FIVE PERCENT OF THE AMOUNT OF SALES TAX REVENUE COLLECTED FROM THE OPERATION OF THE GROCERY STORE DEVELOPMENT PROJECT THAT THE GROCERY STORE OPERATOR RECEIVES, TO REIMBURSE THE MUNICIPALITY OR COUNTY FOR ALL OR A PORTION OF THE COST INCURRED BY THE MUNICIPALITY OR COUNTY IN PROVIDING NECESSARY INFRASTRUCTURE AND OFF-SITE IMPROVEMENTS FOR THE GROCERY STORE DEVELOPMENT PROJECT; TO AMEND SECTION 27-65-75, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT 80% OF THE SALES TAX REVENUE COLLECTED FROM THE OPERATION OF A GROCERY STORE DEVELOPMENT PROJECT UNDER THE PROVISIONS OF THIS ACT SHALL BE DEPOSITED, AFTER CERTAIN DIVERSIONS, INTO THE GROCERY STORE DEVELOPMENT LOAN PROGRAM FUND; TO AUTHORIZE THE ISSUANCE OF STATE GENERAL OBLIGATION BONDS IN THE AMOUNT OF $500,000.00 AND PROVIDE THAT THE PROCEEDS OF THOSE BONDS SHALL BE DEPOSITED INTO THE GROCERY STORE DEVELOPMENT LOAN PROGRAM FUND; AND FOR RELATED PURPOSES.

In the House of Representatives

• Scott DeLano

  Sponsor

• House of Representatives floor amendmentAdopted

  Adopted Feb 26

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

In the House of Representatives Feb 25 – Feb 26

1. Feb 25Referred to the House committee on Ways and Means
2. Feb 26Reported from committee in the House: title sufficient, do pass as a committee substitute
3. Committee substitute adopted in the House
4. Amended in the House
5. Passed the House as amended

In the Senate Mar 3 – Mar 18

1. Mar 3Sent to the Senate
2. Mar 5Referred to the Senate committee on Finance
3. Mar 18Died in committee in the Senate