Bill Text: MS HB1393 | 2026 | Regular Session | Enrolled
Bill Title: Mississippi Energy Infrastructure Fund; create.
Sponsorship: Partisan Bill (Republican 2)
Status: (Passed) 2026-04-08 - Approved by Governor [HB1393 Detail]
Download: Mississippi-2026-HB1393-Enrolled.html
MISSISSIPPI LEGISLATURE
2026 Regular Session
To: Public Utilities; Ways and Means
By: Representatives Powell, Hale
House Bill 1393
(As Sent to Governor)
AN ACT TO CREATE THE MISSISSIPPI ENERGY INFRASTRUCTURE FUND; TO DEFINE TERMS; TO PROVIDE FOR USES OF THE FUNDS; TO AUTHORIZE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO MAKE GRANTS, LOANS OR PROVIDE ANY OTHER FINANCIAL ASSISTANCE; TO REQUIRE ANY LOCAL ENTITY DESIRING A GRANT, LOAN OR OTHER FINANCIAL ASSISTANCE TO SUBMIT AN APPLICATION; TO PRESCRIBE APPLICATION REQUIREMENTS; TO REQUIRE THE AUTHORITY TO DETERMINE WHETHER THE PROJECT MEETS THE DEFINITION OF AN APPROVED PROJECT AND WHETHER TO PROVIDE THE ASSISTANCE REQUESTED IN THE FORM OF A GRANT, LOAN OR OTHER FINANCIAL ASSISTANCE; TO GRANT THE MISSISSIPPI DEVELOPMENT AUTHORITY SOLE DISCRETION IN PROVIDING GRANTS, LOANS OR PROVIDING OTHER FINANCIAL ASSISTANCE; TO PROHIBIT AN ELECTRIC UTILITY PROVIDER FROM BEING CONSIDERED ELIGIBLE TO BE A DIRECT RECIPIENT OF FUNDING; TO REQUIRE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO PROMULGATE RULES AND REGULATIONS; TO PROVIDE THAT THIS ACT SHALL BE REPEALED ON JULY 1, 2029; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) As used in this section, the following terms have the meanings ascribed herein unless the context clearly requires otherwise:
(a) "Approved project" means any project that:
(i) Locates or expands in this state with significant regional impact as determined by the authority; or
(ii) Will improve the marketability of potential economic development sites or facilitates a potential economic development project by obtaining equipment and facilities related to the approved project as determined by the authority.
(b) "Authority" means the Mississippi Development Authority.
(c) "Facilities related to the approved project" means and includes any of the following, as they may pertain to the approved project:
(i) Priority production placement agreements with key manufacturers of long lead-time electrical equipment, including, but not limited to, transformers, substations, switchgear, and specialized circuit breakers for an approved project;
(ii) Notwithstanding subsection (5) of this section, site-specific infrastructure development, including, but not limited to, the extension of transmission lines and pipelines; enhancements or expansions to substation capacity; the acquisition of rights-of-way for key transmission and pipeline infrastructure located near key industrial or commercial sites, as identified by the authority for development; and transformers, breakers, and other equipment and facilities necessary for processing, converting, and delivering such electricity into voltages necessary or useful for an approved project; and
(iii) Any other energy related infrastructure and equipment for an approved project as determined by the authority.
(d) "Project" means any industrial, commercial, research and development, warehousing, distribution, transportation, processing, mining, refining, data center, United States government or tourism enterprise together with all equipment and real property required for construction, maintenance and operation of the enterprise that is approved by the authority.
(e) "Local entity" means any county, municipality or public or private nonprofit local economic development entity, including, but not limited to, local authorities, commissions or other entities created by local and private legislation or pursuant to Section 19-5-99, Mississippi Code of 1972.
(2) (a) There is created a special fund in the State Treasury to be known as the "Mississippi Energy Infrastructure Fund" which shall consist of money from any source designated for deposit into the fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned on amounts in the fund shall be deposited to the credit of the fund. Money in the fund shall be disbursed by the authority for the purposes authorized in subsection (3) of this section.
(b) Monies in the fund that are derived from the proceeds of bonds or provided by the Legislature may be used to reimburse reasonable actual and necessary costs incurred by the authority for the administration of the various grant, loan and financial incentive programs administered by the authority. An accounting of actual costs incurred for which reimbursement is sought shall be maintained by the authority. Reimbursement of reasonable actual and necessary costs shall not exceed three percent (3%) of the proceeds of bonds issued or the monies provided by the Legislature. Reimbursements under this subsection shall satisfy any applicable federal tax law requirements.
(3) The authority shall establish a program to make grants, loans or provide any other financial assistance as determined by the authority from the Mississippi Energy Infrastructure Fund to local entities to construct, equip an approved project or otherwise provide facilities related to the approved project. Local entities are authorized to accept grants and enter into loans or accept other financial assistance as determined by the authority authorized under the program, and to sell, lease, donate or otherwise dispose of an approved project, any equipment or property related to the approved project, and any facilities related to the approved project in whole or in part as determined by the authority.
(4) (a) Any local entity desiring a grant, loan or other financial assistance under this section shall submit an application to the authority which shall include, at a minimum:
(i) Evidence that the project meets the definition of an approved project;
(ii) A description, including the cost, of the requested assistance;
(iii) A description of the purpose for which the assistance is requested; and
(iv) Any other information required by the authority.
(b) The authority shall require that binding commitments be entered into requiring that:
(i) The minimum requirements of this section and such other requirements as the authority considers proper shall be met; and
(ii) If such requirements are not met, the authority may require all or a portion of the funds provided by this section to be repaid.
(c) Upon receipt of the application from a local entity for a grant, loan or other financial assistance under this section, the authority shall determine whether the project meets the definition of an approved project and determine whether to provide the assistance requested in the form of a grant, loan or other financial assistance.
(d) The authority shall have sole discretion in providing grants, loans or providing other financial assistance under this section. The terms of a grant, loan or other financial assistance provided under this section and the manner of repayment of any grant, loan or other financial assistance shall be within the discretion of the authority. Repayments of grants, loans or other financial assistance made under this section shall be deposited to the credit of the Mississippi Energy Infrastructure Fund.
(5) An electric utility provider shall not be eligible to be a direct recipient of funding from the Mississippi Energy Infrastructure Fund.
(6) The authority shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, for the implementation of this section.
(7) This section shall be repealed on July 1, 2029.
SECTION 2. This act shall take effect and be in force from and after July 1, 2026.
