Mississippi Legislature
2001 Regular Session

House Bill 1647

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Bill Text

History of Actions

Background

Title

Description: MS Business Investment Act; increase amount of bonds that may be issued under, revise and provide funding for certain programs.

Bill Text: [Introduced] [Passed House]

History of Actions:

1 02/20 (H) Referred To Ways and Means
2 02/20 (H) Title Suff Do Pass
3 02/20 (H) Passed
4 02/21 (H) Transmitted To Senate
5 02/22 (S) Referred To Finance
6 03/13 (S) Died In Committee

Background Information:

Effective dateJuly 1, 2001
DispositionDead
DeadlineRevenue
RevenueYes
Vote type requiredThree/Fifths

House Committee:

Senate Committee:

Principal Author: Morris

Code Sections: A 057-0061-0025, A 057-0061-0036

Title: AN ACT TO AMEND SECTION 57-61-25, MISSISSIPPI CODE OF 1972, TO INCREASE FROM $254,750,000.00 TO $257,200,000.00 THE AGGREGATE AMOUNT OF BONDS THAT MAY BE ISSUED UNDER THE MISSISSIPPI BUSINESS INVESTMENT ACT; TO AMEND SECTION 57-61-36, MISSISSIPPI CODE OF 1972, TO INCREASE FROM $5,000,000.00 TO $6,500,000.00 THE AMOUNT OF BOND PROCEEDS THAT THE MISSISSIPPI DEVELOPMENT AUTHORITY MAY USE FOR THE PURPOSE OF MAKING GRANTS AND LOANS TO COUNTIES AND MUNICIPALITIES TO AID IN INFRASTRUCTURE RELATED IMPROVEMENTS, THE PURCHASE OF EQUIPMENT AND THE PURCHASE, CONSTRUCTION, REPAIR AND RENOVATION OF PUBLIC FACILITIES; TO EXTEND THE REPEAL DATE ON THE PROVISION WHICH AUTHORIZES THE MISSISSIPPI DEVELOPMENT AUTHORITY TO MAKE INTEREST-BEARING LOANS TO LEGAL ENTITIES MEETING CERTAIN CRITERIA THROUGH A HOUSING DEVELOPMENT REVOLVING LOAN FUND; TO AUTHORIZE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO USE NOT MORE THAN $750,000.00 OF THE BOND PROCEEDS UNDER THE MISSISSIPPI BUSINESS INVESTMENT ACT FOR THE PURPOSE OF ESTABLISHING A CAPITAL ACCESS PROGRAM UNDER WHICH PARTICIPATING FINANCIAL INSTITUTIONS MAY MAKE LOANS TO QUALIFIED BORROWERS UNDER THE PROGRAM AND BE PROTECTED AGAINST LOSSES FROM SUCH LOANS; TO AUTHORIZE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO USE NOT MORE THAN $200,000.00 OF THE BOND PROCEEDS UNDER THE MISSISSIPPI BUSINESS INVESTMENT ACT FOR THE PURPOSE OF ASSISTING WARREN COUNTY, MISSISSIPPI, IN THE CONTINUATION AND COMPLETION OF A STUDY FOR THE PROPOSED KINGS POINT LEVEE; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 03/30/01 at 08:27.

End Of Document
2001/pdf/History/HB/HB1647.htm