SB3165: Bonds; authorize issuance for various Mississippi Development Authority programs.

Legislative Summary

An Act To Authorize The Issuance Of State General Obligation Bonds In The Amount Of $20,000,000.00 To Provide Funds For The Mississippi Site Development Grant Fund; To Amend Section 57-1-701, Mississippi Code Of 1972, In Conformity Thereto; To Authorize The Issuance Of State General Obligation Bonds In The Amount Of $10,000,000.00 For The Ace Fund; To Amend Section 57-61-25, Mississippi Code Of 1972, To Increase By $25,000,000.00 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 By $5,000,000.00 The Amount Of Bond Proceeds That The Mississippi Development Authority May Utilize Under The Mississippi Business Investment Act To Make Grants Or Loans To 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 Amend Section 57-61-41, Mississippi Code Of 1972, To Increase By $20,000,000.00 The Amount Of Bond Proceeds That The Mississippi Development Authority May Utilize Under The Mississippi Business Investment Act To Make Loans To Counties, Municipalities, Or State, County Or Municipal Port And Airport Authorities Through A Port, Airport And Rail Revitalization Revolving Loan Fund For The Improvement Of Port And Airport Facilities, Or For Publicly Owned Freight Rail Service Projects, To Promote Commerce And Economic Growth; To Amend Section 57-75-15, Mississippi Code Of 1972, To Increase By $5,000,000.00 The Amount Of General Obligation Bonds That May Be Issued Under The Mississippi Major Economic Impact Act For Projects Designed To Enhance Facilities That Are At Risk For Closure Pursuant To The Defense Base Closure And Realignment Act Of 1990 Or Other Applicable Federal Law; To Remove The Reverter On The Authority Of The State Bond Commission To Determine The Appropriate Method For The Sale Of Certain Bonds And To Negotiate Their Sale; To Amend Section 25, Chapter 533, Laws Of 2010, As Last Amended By Section 7, Chapter 507, Laws Of 2024, To Increase By $20,000,000.00 The Amount Of General Obligation Bonds That May Be Issued For The Mississippi Industry Incentive Financing Revolving Fund; To Extend Until July 1, 2029, The Period Of Time During Which Bonds May Be Issued For The Mississippi Industry Incentive Financing Revolving Fund; To Amend Section 65-4-25, Mississippi Code Of 1972, To Increase By $1,000,000.00 The Amount Of Bonds Authorized To Be Issued Under The Economic Development Highway Act To Provide Funding For A High Economic Benefit Project As Defined In Section 65-4-5(1)(c)(v); And For Related Purposes.