Bill Text | History of Actions | Background | Title |
Description: Emergency Aid to Local Governments Fund; authorize grants to be made from.
Bill Text: [Introduced]
| 1 | 08/26 (S) Referred To Finance;Appropriations | |
| 2 | 08/26 (S) Died In Committee |
| Effective date | Passage | |
| Disposition | Dead | |
| Deadline | None | |
| Revenue | No | |
| Vote type required | Three/Fifths |
Senate Committees:
Principal Author: Robertson
Code Sections: A 027-0107-0321, A 031-0017-0123, A 027-0065-0017
Title: AN ACT TO AMEND SECTION 27-107-321, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO MAKE GRANTS TO LOCAL GOVERNMENTS FROM THE EMERGENCY AID TO LOCAL GOVERNMENTS FUND; TO PROVIDE THAT INTEREST EARNED OR INVESTMENT EARNINGS ON AMOUNTS IN THE FUND SHALL BE DEPOSITED TO THE CREDIT OF THE FUND AND TO PROVIDE THAT GRANTS FROM THE FUND MAY NOT EXCEED $3,000,000.00 AND THAT THE TOTAL AGGREGATE AMOUNT OF ALL GRANTS SHALL NOT EXCEED $25,000,000.00; TO REQUIRE NOTICE TO BE GIVEN TO CERTAIN MEMBERS OF THE LEGISLATURE BEFORE A PUBLIC CEREMONY TO ANNOUNCE THE AWARD OF A GRANT UNDER THIS ACT; TO REQUIRE THAT CERTAIN DOCUMENTS PREPARED IN CONNECTION WITH A GRANT MADE UNDER THIS ACT CONTAIN LANGUAGE THAT THE GRANT FUNDS WERE MADE AVAILABLE BY THE LEGISLATURE; 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 $100,000,000.00 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; TO AMEND SECTION 27-65-17, MISSISSIPPI CODE OF 1972, TO REDUCE THE SALES TAX ON RETAIL SALES OF CERTAIN FACTORY BUILT HOMES; AND FOR RELATED PURPOSES.
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