Bill > HB543

This bill creates a grant program administered by the Mississippi Development Authority (MDA) to help businesses expand cellular and broadband access in rural counties and municipalities. Specifically, the bill defines rural counties as having 30,000 or fewer residents and rural municipalities as having 10,000 or fewer residents. The MDA will establish a grant program where businesses can apply for funding to cover up to 25% of project costs related to improving cellular and broadband infrastructure in these rural areas. To fund the program, the state will issue $15 million in general obligation bonds, which will be deposited into a special "Rural Counties and Municipalities Cellular and Broadband Fund" in the state treasury. Businesses seeking grants must submit detailed applications to the MDA, including project descriptions, costs, and requested grant amounts. The MDA will have the authority to create rules and regulations for implementing the program. The bonds will have a maximum maturity of 25 years, and any investment earnings from the fund will be used to pay debt service on the bonds. The program is set to take effect on July 1, 2025, and aims to address connectivity challenges in Mississippi's rural areas by providing financial assistance to businesses willing to invest in cellular and broadband infrastructure.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0543.xml