Bill > HB965

This bill extends the Mississippi Development Authority's (MDA) ability to use certain interest earnings from the Local Governments Capital Improvements Revolving Loan Fund for its general operational support. Specifically, the bill changes the existing law's "repealer" (expiration) date from July 1, 2025 to July 1, 2028, which means the MDA can continue to use interest derived from loan payments for its administrative expenses for an additional three years. The Local Governments Capital Improvements Revolving Loan Fund is a special state treasury fund that provides low-interest loans to counties and municipalities for capital improvement projects. While the MDA can use some interest earnings for its general support, the bill explicitly prohibits using these funds for employee salary increases. The bill maintains the existing provisions that the fund is divided into taxable and nontaxable subaccounts, with specific allocations and interest rates for different types of capital improvement projects. The extension allows the MDA to continue using this funding mechanism to support its operations while maintaining the primary purpose of providing financial assistance to local governments for infrastructure and development projects.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0965.xml