Bill > SB2827

This bill establishes a program to provide emergency infrastructure loans to rural counties and municipalities in Mississippi, defining "rural county" as having 30,000 or fewer residents and "rural municipality" as having 10,000 or fewer residents. The Mississippi Development Authority (MDA) will administer this program, using funds from a newly created "Rural Counties and Municipalities Emergency Infrastructure Improvements Fund." This fund will be replenished by loans repaid by the recipient entities, and the state will issue up to $10,000,000 in general obligation bonds to initially fund the program, with proceeds going directly into the improvement fund. Loans from this fund can be used for emergency repairs, maintenance, construction, reconstruction, upgrades, and improvements to infrastructure projects, with a maximum loan amount of $250,000 and a repayment term of up to five years. The bill also outlines the process for bond issuance, management by the State Bond Commission, and specifies that the bonds are general obligations of the state, secured by its full faith and credit, and will be exempt from state taxation.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB2827.xml