Mississippi Legislature
2005 5th Extraordinary Session

Senate Bill 2018

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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] [Committee Substitute] [Passed Senate]

History of Actions:

1 09/27 (S) Referred To Appropriations
2 09/29 (S) Title Suff Do Pass Comm Sub
3 09/30 (S) Committee Substitute Adopted
4 09/30 (S) Passed
5 09/30 (S) Immediate Release
6 09/30 (S) Transmitted To House
7 09/30 (H) Referred To Ways and Means
8 10/07 (H) Died In Committee

Background Information:

Effective datePassage
DispositionDead
DeadlineNone
RevenueNo
Vote type requiredThree/Fifths

Senate Committee:

House Committee:

Principal Author: Gordon

Additional Authors: Little, Burton, Dawkins, Frazier, Gollott, Jackson (11th), Jackson (32nd), Jordan

Code Sections: A 027-0033-0077, A 027-0065-0075

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 MAKE IT CLEAR THAT EVIDENCES OF INDEBTEDNESS WHICH ARE ISSUED PURSUANT TO THIS ACT SHALL NOT BE DEEMED INDEBTEDNESS WITHIN THE MEANING OF CERTAIN DEBT LIMITATIONS; 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 SPECIAL FUNDS TO FUND THE LOANS UNDER THIS PROGRAM; TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO MAKE TRANSFERS FROM THE DISASTER RECOVERY 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; TO AMEND SECTIONS 27-33-77 AND 27-65-75, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 10/07/05 at 20:04.

End Of Document
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