Bill > SB3047

This bill authorizes the issuance of up to $540,000 in general obligation bonds by the State of Mississippi to fund the West Central Mississippi Incubator Grant Program, which supports economic development initiatives in Humphreys, Madison, Sharkey, Sunflower, Washington, and Yazoo Counties. The bonds, which will be general obligations of the state and backed by its full faith and credit, can be issued until July 1, 2030, and will mature within 25 years. The proceeds will be deposited into a dedicated fund, the "2026 West Central Mississippi Incubator Grant Program Fund," and used for program expenses, with any remaining funds after project completion applied to debt service on the bonds. The State Bond Commission, referred to as the "Commission," will oversee the issuance and sale of these bonds, with provisions for their form, sale, and legal standing as negotiable instruments. The bill also outlines procedures for bond validation, legal investment status, tax exemption within Mississippi, and the process for warrant issuance and payment.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB3047.xml