Bill Text | History of Actions | Background | Title |
Description: MS Business Investment Act; increase amount of bonds that may be issued under, revise and provide funding for certain programs.
Bill Text: [Introduced] [Passed House]
| 1 | 02/20 (H) Referred To Ways and Means | |
| 2 | 02/20 (H) Title Suff Do Pass | |
| 3 | 02/20 (H) Passed | |
| 4 | 02/21 (H) Transmitted To Senate | |
| 5 | 02/22 (S) Referred To Finance | |
| 6 | 03/13 (S) Died In Committee |
| Effective date | July 1, 2001 | |
| Disposition | Dead | |
| Deadline | Revenue | |
| Revenue | Yes | |
| Vote type required | Three/Fifths |
House Committee:
Senate Committee:
Principal Author: Morris
Code Sections: A 057-0061-0025, A 057-0061-0036
Title: AN ACT TO AMEND SECTION 57-61-25, MISSISSIPPI CODE OF 1972, TO INCREASE FROM $254,750,000.00 TO $257,200,000.00 THE AGGREGATE AMOUNT OF BONDS THAT MAY BE ISSUED UNDER THE MISSISSIPPI BUSINESS INVESTMENT ACT; TO AMEND SECTION 57-61-36, MISSISSIPPI CODE OF 1972, TO INCREASE FROM $5,000,000.00 TO $6,500,000.00 THE AMOUNT OF BOND PROCEEDS THAT THE MISSISSIPPI DEVELOPMENT AUTHORITY MAY USE FOR THE PURPOSE OF MAKING GRANTS AND LOANS TO COUNTIES AND MUNICIPALITIES TO AID IN INFRASTRUCTURE RELATED IMPROVEMENTS, THE PURCHASE OF EQUIPMENT AND THE PURCHASE, CONSTRUCTION, REPAIR AND RENOVATION OF PUBLIC FACILITIES; TO EXTEND THE REPEAL DATE ON THE PROVISION WHICH AUTHORIZES THE MISSISSIPPI DEVELOPMENT AUTHORITY TO MAKE INTEREST-BEARING LOANS TO LEGAL ENTITIES MEETING CERTAIN CRITERIA THROUGH A HOUSING DEVELOPMENT REVOLVING LOAN FUND; TO AUTHORIZE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO USE NOT MORE THAN $750,000.00 OF THE BOND PROCEEDS UNDER THE MISSISSIPPI BUSINESS INVESTMENT ACT FOR THE PURPOSE OF ESTABLISHING A CAPITAL ACCESS PROGRAM UNDER WHICH PARTICIPATING FINANCIAL INSTITUTIONS MAY MAKE LOANS TO QUALIFIED BORROWERS UNDER THE PROGRAM AND BE PROTECTED AGAINST LOSSES FROM SUCH LOANS; TO AUTHORIZE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO USE NOT MORE THAN $200,000.00 OF THE BOND PROCEEDS UNDER THE MISSISSIPPI BUSINESS INVESTMENT ACT FOR THE PURPOSE OF ASSISTING WARREN COUNTY, MISSISSIPPI, IN THE CONTINUATION AND COMPLETION OF A STUDY FOR THE PROPOSED KINGS POINT LEVEE; AND FOR RELATED PURPOSES.
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2001/html/History/HB/HB1647.htm