Mississippi Legislature
2005 5th Extraordinary Session

House Bill 26

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Bill Text

History of Actions

Background

Title

Description: Disaster assistance; establish the Emergency Aid to Local Governments Loan Program.

Bill Text: [Introduced]

History of Actions:

1 09/27 (H) Referred To Ways and Means
2 09/30 (H) Title Suff Do Pass
3 10/07 (H) Died On Calendar

Background Information:

Effective datePassage
DispositionDead
DeadlineNone
RevenueNo
Vote type requiredThree/Fifths

House Committee:

Principal Author: Brown

Additional Author: Watson

Title: AN ACT TO ESTABLISH AN EMERGENCY AID TO LOCAL GOVERNMENTS LOAN PROGRAM FOR THE PURPOSE OF ASSISTING COUNTIES, INCORPORATED MUNICIPALITIES AND PUBLIC SCHOOL DISTRICTS THAT SUFFER REVENUE LOSSES AS A RESULT OF A NATURAL DISASTER FOR WHICH A STATE OF EMERGENCY HAS BEEN DULY PROCLAIMED; TO PROVIDE THAT THE PROGRAM SHALL BE ADMINISTERED BY THE DEPARTMENT OF FINANCE AND ADMINISTRATION; TO CREATE THE EMERGENCY AID TO LOCAL GOVERNMENTS LOAN FUND; TO ESTABLISH THE MAXIMUM AMOUNT OF ANY LOAN UNDER THIS PROGRAM; TO PROVIDE THAT A COUNTY OR SCHOOL DISTRICT THAT RECEIVES A LOAN FROM THE FUND SHALL PLEDGE FOR REPAYMENT OF THE LOAN ANY PART OF THE HOMESTEAD EXEMPTION ANNUAL TAX LOSS REIMBURSEMENT TO WHICH IT MAY BE ENTITLED; TO PROVIDE THAT AN INCORPORATED MUNICIPALITY THAT RECEIVES A LOAN FROM THE FUND OR THE EMERGENCY FUND SHALL PLEDGE FOR REPAYMENT OF THE LOAN ANY PART OF THE SALES TAX REVENUE DISTRIBUTION TO WHICH IT MAY BE ENTITLED; TO GRANT TO THE DEPARTMENT OF FINANCE AND ADMINISTRATION CERTAIN POWERS AND DUTIES WITH REGARD TO THIS ACT; TO AUTHORIZE THE STATE BOND COMMISSION TO DECLARE THE NECESSITY FOR GENERAL FUNDS TO FUND THE LOANS UNDER THIS PROGRAM; TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO MAKE TRANSFERS FROM THE GENERAL FUND TO THE LOAN FUND FOR THE PURPOSE OF FUNDING THE LOANS UNDER THIS PROGRAM; TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO ISSUE WARRANTS TO MAKE LOANS UNDER THIS PROGRAM; TO PROVIDE FOR THE DISPOSITION OF ANY UNNEEDED STATE FUNDS IN THE LOAN FUND; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 10/07/05 at 20:00.

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