Bill
Bill > HB983
MS HB983
MS HB983Bonds; authorize issuance for improvements at the state-owned shipyard in Jackson County.
summary
Introduced
01/21/2019
01/21/2019
In Committee
02/26/2019
02/26/2019
Crossed Over
02/20/2019
02/20/2019
Passed
03/21/2019
03/21/2019
Dead
Signed/Enacted/Adopted
03/28/2019
03/28/2019
Introduced Session
2019 Regular Session
Bill Summary
An Act To Authorize The Issuance Of $45,000,000.00 In State General Obligation Bonds To Provide Funds For Capital Improvements At The State-owned Shipyard Located In Jackson County, Mississippi; To Provide That The Issuance Of Such Bonds Shall Be Conditioned On The Lessee Incurring A Certain Amount Of Debt And/or Dedicating A Certain Amount Of Funds For Capital Improvements, Capital Investments Or Capital Upgrades To Shipyards In Mississippi Owned Or Leased By Such Lessee; And For Related Purposes.
AI Summary
This bill authorizes the issuance of $45,000,000 in state general obligation bonds to fund capital improvements at the state-owned shipyard located in Jackson County, Mississippi. The issuance of the bonds is conditioned on the lessee of the shipyard incurring at least $90,000,000 in debt or dedicating funds for capital improvements, investments, or upgrades to shipyards in Mississippi owned or leased by the lessee. The lessee must also maintain a certain minimum number of jobs and/or economic impact, and if the lessee fails to satisfy these commitments, they must repay all or a portion of the funds provided by the state. The bill outlines the procedures for issuing and selling the bonds, as well as the use of the bond proceeds and the exemption of the improvements from ad valorem taxation, except for school district purposes.
Committee Categories
Budget and Finance
Sponsors (5)
Jeramey Anderson (D)*,
Mark Baker (R)*,
Deborah Dixon (D)*,
John Read (R)*,
Sonya Williams-Barnes (D)*,
Last Action
Approved by Governor (on 03/28/2019)
Official Document
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