Bill Text: MS SB2880 | 2026 | Regular Session | Introduced
Bill Title: Economic Development and Infrastructure Fund; revise provisions related to increasing commercial air service.
Sponsorship: Partisan Bill (Republican 1)
Status: (Failed) 2026-02-03 - Died In Committee [SB2880 Detail]
Download: Mississippi-2026-SB2880-Introduced.html
MISSISSIPPI LEGISLATURE
2026 Regular Session
To: Finance
By: Senator(s) Williams
Senate Bill 2880
AN ACT TO AMEND SECTION 57-1-501, MISSISSIPPI CODE OF 1972, TO REVISE THE PURPOSES FOR WHICH GRANT MONIES FROM THE ECONOMIC DEVELOPMENT AND INFRASTRUCTURE FUND MAY BE USED IN RELATION TO INCREASING COMMERCIAL AIR SERVICE; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 57-1-501, Mississippi Code of 1972, is amended as follows:
57-1-501. (1) There is created in the State Treasury a special fund to be designated as the "Economic Development and Infrastructure Fund." The special fund shall consist of monies deposited into the fund from any source that is designated for deposit into such 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 or investment earnings on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be used by the Mississippi Development Authority for the purposes authorized in subsection (2) of this section.
(2) (a) The Mississippi Development Authority shall establish a program to provide grants:
(i) To assist with
construction and repair of infrastructure in counties in this state where legal
gaming is being conducted or is authorized and for structures designed to
promote the gaming and entertainment industry in such counties * * *; and
(ii) To aid in
increasing commercial air service at existing commercial service airports * * * in this state * * *,
including any existing Federal Aviation Administration-certificated Part 139
commercial service airport within this state, by offering to assist Part
121 air carriers through * * * air service development methods * * *, including revenue guaranty, seat
guaranty, seat cost mitigation, ground handling * * *, marketing and other incentive
or risk-mitigation mechanisms authorized by rule, for the purpose of
initiating, sustaining or expanding new direct or nonstop commercial air
service that supports economic development, workforce access, tourism, business
retention and business recruitment within the metropolitan area and the
surrounding region. Funding for the purposes in this subparagraph (ii) shall be
provided through a separate appropriation from the Legislature.
(b) The Mississippi Development Authority shall establish a procedure for accepting and reviewing applications for grants under this section, including consideration of the anticipated economic development impact to the municipal area, regional connectivity, and return on investment to the state.
(c) If funds are available in the fund created under this section, not less than Two Million Five Hundred Thousand Dollars ($2,500,000.00) shall be used annually for grants provided for under paragraph (a)(ii) of this subsection (2). Thereafter, the funds may be used for grants provided for under paragraph (a)(i) of this subsection (2).
(3) The Mississippi Development Authority shall have all powers necessary to implement and administer the program established under this section, and the Mississippi Development Authority shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation of this section.
SECTION 2. This act shall take effect and be in force from and after its passage.
