Bill Text: MS HB378 | 2018 | Regular Session | Introduced
Bill Title: Appropriation; MDA for revolving loan program for rural counties and municipalities to improve infrastructure.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2018-02-21 - Died In Committee [HB378 Detail]
Download: Mississippi-2018-HB378-Introduced.html
MISSISSIPPI LEGISLATURE
2018 Regular Session
To: Appropriations
By: Representative Hudson
House Bill 378
AN ACT MAKING AN APPROPRIATION TO THE MISSISSIPPI DEVELOPMENT AUTHORITY TO ESTABLISH AND ADMINISTER A REVOLVING LOAN PROGRAM TO MAKE LOANS TO RURAL COUNTIES AND RURAL MUNICIPALITIES FOR THE PURPOSE OF ASSISTING THE COUNTIES AND MUNICIPALITIES IN PAYING COSTS ASSOCIATED WITH EMERGENCY REPAIR, MAINTENANCE, CONSTRUCTION, RECONSTRUCTION, UPGRADES OF AND IMPROVEMENTS TO INFRASTRUCTURE AND INFRASTRUCTURE RELATED PROJECTS FOR THE FISCAL YEAR 2018.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. The following sum, or so much of it as may be necessary, is appropriated out of any money in the State General Fund not otherwise appropriated, to the Mississippi Development Authority for the purpose of establishing and administering a revolving loan program to make loans to rural counties and rural municipalities, as described in Section 2 of this act, for the fiscal year beginning July 1, 2018, and ending June 30, 2019...............................................................
............................................... $ 10,000,000.00.
SECTION 2. (1) With the funds appropriated by Section 1 of this act, the Mississippi Development Authority shall establish and administer a revolving loan program to make loans to rural counties and rural municipalities for the purpose of assisting the counties and municipalities in paying costs associated with emergency repair, maintenance, construction, reconstruction, upgrades of and improvements to infrastructure and infrastructure related projects. The maximum amount of a loan made under this section is Two Hundred Fifty Thousand Dollars ($250,000.00) and the maximum term of a loan is five (5) years.
(2) For the purposes of this act, the term "rural county" means a county in the State of Mississippi with a population of thirty thousand (30,000) or less according to the most recent federal decennial census; and the term "rural municipality" means a municipality in the State of Mississippi with a population of ten thousand (10,000) or less according to the most recent federal decennial census.
SECTION 3. The money appropriated by this act shall be paid by the State Treasurer out of any money in the State General Fund not otherwise appropriated, upon warrants issued by the State Fiscal Officer; and the State Fiscal Officer shall issue his warrants upon requisitions signed by the proper person, officer or officers in the manner provided by law.
SECTION 4. This act shall take effect and be in force from and after July 1, 2018.
