Mississippi Legislature

1999 Regular Session

Senate Bill 2423

[Introduced] [Committee Substitute] [Passed Senate]

Instructions Bill Status Menu




History of Actions

Amendments

Background

Title

Description: Economic Development; authorize certain programs to encourage development in less developed counties.

History of Actions:

101/08/99(S)Referred To Economic Dev, Tourism and Parks;Finance
201/27/99(S)DR - TSDPCS: EC To FI
302/02/99(S)DR - TSDPCS: FI To EC
402/02/99(S)Title Suff Do Pass Comm Sub
502/10/99(S)Committee Substitute Adopted
602/10/99(S)Amended
702/10/99(S)Passed As Amended
802/11/99(S)Transmitted To House
902/12/99(H)Referred To Ways and Means
1003/02/99(H)Died In Committee

Amendments:

Adopted [S] Amendment No 1 (Cmte Sub)

Background Information:

Effective dateJuly 1, 1999
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
3/5ths vote requiredYes

Senate Committees:

House Committee:

Principal Author: Simmons

Additional Authors: Walls, Dearing, Horhn, Furniss

Code Section: A 057-0061-0034

Title: AN ACT TO BE ENTITLED THE ECONOMIC DEVELOPMENT ACT OF 1999 TO CREATE THE CHILD DAY CARE LOAN GUARANTEE FUND FOR THE PURPOSE OF ENCOURAGING LENDERS TO MAKE LOANS AVAILABLE FOR THE PURPOSE OF FINANCING THE DEVELOPMENT AND EXPANSION OF CHILD DAY CARE CENTERS IN THE LESS DEVELOPED COUNTIES OF THE STATE; TO PROVIDE THAT THE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT SHALL ADMINISTER THE LOAN GUARANTEE PROGRAM; TO PROVIDE THAT LOANS OR AN ENTITY DESIGNATED BY SUCH DEPARTMENT THAT ARE ELIGIBLE FOR GUARANTEES MAY BE MADE ONLY FOR CERTAIN PURPOSES; TO LIMIT THE AMOUNT OF THE LOAN GUARANTEES MADE UNDER THIS ACT; TO PRESCRIBE CERTAIN CRITERIA THAT SHALL BE USED IN THE DETERMINATION OF WHETHER TO GRANT CERTAIN LOAN GUARANTEES; TO PRESCRIBE THE INFORMATION THAT AN APPLICANT FOR A LOAN GUARANTEE MUST PROVIDE; TO ESTABLISH A GRANT PROGRAM FOR COMMUNITY DEVELOPMENT CORPORATIONS; TO ESTABLISH A SPECIAL FUND IN THE STATE TREASURY DESIGNATED AS THE "COMMUNITY DEVELOPMENT GRANT FUND" FROM WHICH SUCH GRANTS SHALL BE MADE; TO PROVIDE THAT DECD SHALL ADMINISTER THE GRANT PROGRAM ESTABLISHED PURSUANT TO THIS ACT; TO PROVIDE THAT DECD SHALL ESTABLISH CRITERIA FOR AWARDING GRANTS AND THE AMOUNT OF SUCH GRANTS; TO REQUIRE THE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT TO ESTABLISH A JOB RECRUITMENT, TRAINING, DEVELOPMENT, COUNSELING, MOTIVATION AND REFERRAL SERVICES PROGRAM FOR LESS DEVELOPED COUNTIES OF THE STATE TO ASSIST CHRONICALLY UNEMPLOYED PERSONS IN OVERCOMING BARRIERS THAT MAY BLOCK SUCCESSFUL EMPLOYMENT; TO AMEND SECTION 57-61-34, MISSISSIPPI CODE OF 1972, TO INCREASE FROM $5,000,000.00 TO $8,000,000.00 THE AMOUNT OF BOND PROCEEDS THAT THE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT MAY MAKE AVAILABLE AS INTEREST BEARING LOANS TO AID IN THE ESTABLISHMENT OF BUSINESS INCUBATION CENTERS AND THE CREATION OF NEW AND EXPANDING TECHNOLOGY-BASED BUSINESS AND INDUSTRY; TO CREATE A NEW CODE SECTION TO BE CODIFIED AS SECTION 57-61-45, MISSISSIPPI CODE OF 1972, TO REQUIRE THAT NOT MORE THAN $2,000,000.00 OF CERTAIN BOND PROCEEDS FOR A GRANT TO PROVIDE FUNDS FOR THE COMMUNITY DEVELOPMENT GRANT FUND; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 03/02/99 at 15:35.



End Of Document

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