History of Actions | Background | Title |
Description: Master Planned Community Act; enact.
| 1 | 02/11/99 | (S) | Referred To Finance | |
| 2 | 02/24/99 | (S) | Died In Committee |
| Effective date | July | |
| Disposition | Dead | |
| Deadline | Revenue/Appropriation | |
| Revenue | Yes | |
| 3/5ths vote required | Yes |
Senate Committee:
Principal Author: Hewes
Additional Authors: Gollott, Woodfield, Cuevas, Moffatt, Robertson, Dickerson, Lee
Code Sections: A 019-0009-0005, A 021-0033-0303, A 027-0033-0077, A 027-0065-0075
Title: AN ACT TO AUTHORIZE THE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT (DECD) TO ACT ON BEHALF OF THE STATE AND TO TAKE ALL STEPS APPROPRIATE OR NECESSARY TO EFFECT THE SITING, DEVELOPMENT AND OPERATION OF MASTER PLANNED COMMUNITIES IN THE STATE; TO GRANT DECD CERTAIN ADDITIONAL POWERS WITH REGARD TO SUCH AUTHORITY; TO AUTHORIZE THE ISSUANCE OF $40,000,000.00 IN STATE GENERAL OBLIGATION BONDS UPON THE SELECTION OF THE STATE AS THE SITE OF A MASTER PLANNED COMMUNITY; TO PROVIDE THAT NOT MORE THAN 50% OF THE BONDS ISSUED PURSUANT TO THIS ACT MAY BE UTILIZED BY DECD FOR GRANTS TO AFFECTED PUBLIC ENTITIES TO DEFRAY THE COST OF FACILITIES RELATED TO THE PROJECT; TO PROVIDE THAT NOT LESS THAN 50% OF THE BONDS ISSUED PURSUANT TO THIS ACT SHALL BE UTILIZED BY DECD AS LOANS TO AFFECTED COUNTIES AND MUNICIPALITIES; TO CREATE THE MASTER PLANNED COMMUNITY CAPITAL IMPROVEMENTS LOAN FUND FOR THE PURPOSE OF MAKING LOANS TO COUNTIES AND MUNICIPALITIES THAT MAY BE UTILIZED BY THEM FOR THE CONSTRUCTION AND ACQUISITION OF ANY FACILITY RELATED TO THE PROJECT OR TO MAKE LOANS TO THE OWNER OR DEVELOPER OF THE PROJECT FOR SUCH PURPOSES; TO REQUIRE COUNTIES TO PLEDGE A PORTION OF THEIR HOMESTEAD EXEMPTION REIMBURSEMENT AS SECURITY FOR LOANS ISSUED TO THEM UNDER THIS ACT; TO REQUIRE MUNICIPALITIES TO PLEDGE A PORTION OF THE SALES TAX REVENUE TO WHICH THEY ARE ENTITLED AS SECURITY FOR LOANS ISSUED TO THEM UNDER THIS ACT; TO GRANT PUBLIC AGENCIES CERTAIN ADDITIONAL POWERS WITH REGARD TO SUCH PROJECTS; TO AMEND SECTIONS 19-9-5, 21-33-303, 27-33-75 AND 27-65-75, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO.
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