MISSISSIPPI LEGISLATURE
2023 Regular Session
To: Appropriations
By: Representative Guice
AN ACT MAKING AN APPROPRIATION TO THE MISSISSIPPI DEVELOPMENT AUTHORITY TO PROVIDE FUNDS TO INNOVATE MISSISSIPPI FOR PROVIDING ASSISTANCE UNDER THE RESEARCH AND DEVELOPMENT PROGRAM, THE PROOF OF CONCEPT LOAN PROGRAM, THE MISSISSIPPI NEW TECHNOLOGY BUSINESS PROGRAM-LEVEL 2 PROGRAM AND THE PROOF OF CONCEPT GRANT PROGRAM FOR THE FISCAL YEAR 2024.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. The following sum, or so much of it as may be necessary, is appropriated out of any money in the State General Fund not otherwise appropriated, to the Mississippi Development Authority to provide funds to Innovate Mississippi for providing assistance under the Research and Development Program, the Proof of Concept Loan Program, the Mississippi New Technology Business Program-Level 2 Program and the Proof of Concept Grant Program established under Sections 57-103-1, 57-103-3, 57-103-5 and 57-103-7, Mississippi Code of 1972, for the fiscal year beginning July 1, 2023, and ending June 30, 2024................... $ 2,000,000.00.
SECTION 2. The money appropriated in Section 1 of this act shall be used by Innovate Mississippi as follows:
(a) Research and Development Program..... $ 750,000.00.
(b) Proof of Concept Loan Program........ $ 550,000.00.
(c) Mississippi New Technology Business Program-Level 2
.................................................. $ 500,000.00.
(d) Proof of Concept Grant Program....... $ 200,000.00.
TOTAL............................................ $2,000,000.00.
SECTION 3. The money appropriated by this act shall be paid by the State Treasurer out of any money in the State General Fund not otherwise appropriated, upon warrants issued by the State Fiscal Officer; and the State Fiscal Officer shall issue his or her warrants upon requisitions signed by the proper person, officer or officers in the manner provided by law.
SECTION 4. This act shall take effect and be in force from and after July 1, 2023.