Mississippi Legislature
2006 1st Extraordinary Session

House Bill 6

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Bill Text

History of Actions

Background

Title

Description: Gulf Coast Tax Credit Bonds; authorize issuance of.

Bill Text: [Introduced] [Passed House] [Sent to Governor]

History of Actions:

1 08/24 (H) Referred To Ways and Means
2 08/24 (H) Title Suff Do Pass
3 08/24 (H) Passed
4 08/24 (H) Immediate Release
5 08/24 (H) Transmitted To Senate
6 08/24 (S) Referred To Finance
7 08/26 (S) Title Suff Do Pass
8 08/26 (S) Passed
9 08/26 (S) Transmitted To House
10 08/29 (H) Enrolled Bill Signed
11 08/30 (S) Enrolled Bill Signed
12 09/13 Approved by Governor

Background Information:

Effective datePassage
DispositionLaw
DeadlineNone
RevenueNo
Vote type requiredThree/Fifths
Chapter number8

House Committee:

Senate Committee:

Principal Author: Watson

Additional Authors: Compretta, Dedeaux, Upshaw, Fredericks, Guice, Ishee, Janus, Patterson, Peranich, Simpson, Broomfield, Hamilton (109th), Parker, Read, Wells-Smith, Zuber, Espy, Formby

Code Section: A 031-0017-0123

Title: AN ACT TO AUTHORIZE THE ISSUANCE OF STATE GENERAL OBLIGATION GULF TAX CREDIT BONDS IN A PRINCIPAL AMOUNT NOT TO EXCEED $100,000,000.00 AS AUTHORIZED BY THE GULF OPPORTUNITY ZONE ACT OF 2005 ENACTED BY THE UNITED STATES CONGRESS IN RESPONSE TO HURRICANE KATRINA; TO AUTHORIZE THE USE OF THE PROCEEDS OF SUCH GENERAL OBLIGATION BONDS TO PAY DEBT SERVICE ON ANY OUTSTANDING GENERAL OBLIGATION BONDS OF THE STATE FOR FISCAL YEAR 2007; TO PROVIDE FOR THE TERMS AND PROVISIONS OF SUCH GENERAL OBLIGATION BONDS AND THE IMPLEMENTATION OF CERTAIN PROVISIONS OF THE GULF OPPORTUNITY ZONE ACT OF 2005 RELATED TO SUCH GENERAL OBLIGATION BONDS; TO AMEND SECTION 31-17-123, MISSISSIPPI CODE OF 1972, TO MAKE IT CLEAR THAT INTEREST EARNED ON THE DISASTER RECOVERY FUND SHALL BE DEPOSITED TO THE CREDIT OF SUCH FUND; TO AMEND SECTION 3, CHAPTER 534, LAWS OF 2006, TO PROVIDE THAT THE STATE TREASURER SHALL TRANSFER DURING FISCAL YEARS 2007 AND 2008 INTEREST EARNED OR INVESTMENT EARNINGS ON AMOUNTS IN THE HURRICANE DISASTER ASSISTANCE FUND TO THE EMERGENCY AID TO LOCAL GOVERNMENTS FUND; TO AMEND SECTION 6, CHAPTER 17, LAWS OF 2006, TO REDUCE THE AMOUNT OF FUNDS UTILIZED FROM THE BUDGET CONTINGENCY FUND FOR PAYMENT OF MATURING BONDS AND INTEREST ON THE FULL FAITH AND CREDIT BONDS OF THE STATE OF MISSISSIPPI FALLING DUE DURING FISCAL YEAR 2007; TO PROVIDE THAT $200,000,000.00 SHALL BE UTILIZED FROM THE TAX CREDIT BOND PROCEEDS FUND FOR PAYMENT OF MATURING BONDS AND INTEREST ON THE FULL FAITH AND CREDIT BONDS OF THE STATE OF MISSISSIPPI FALLING DUE DURING FISCAL YEAR 2007; TO REQUIRE THE TRANSFER OF $100,000,000.00 FROM THE BUDGET CONTINGENCY FUND TO THE DISASTER RECOVERY FUND; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 09/20/06 at 13:46.

End Of Document
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