Bill Text | History of Actions | Background | Title |
Description: Poultry operations; provide for issuance of bonds to provide loans or loan guaranties to.
Bill Text: [Introduced]
| 1 | 02/18 (H) Referred To Ways and Means | |
| 2 | 02/23 (H) Died In Committee |
| Effective date | July 1, 2005 | |
| Disposition | Dead | |
| Deadline | Revenue | |
| Revenue | Yes | |
| Vote type required | Three/Fifths |
House Committee:
Principal Author: Fleming
Additional Authors: Clark, Smith (27th)
Code Sections: A 069-0002-0013, A 069-0002-0019
Title: AN ACT TO AMEND SECTION 69-2-13, MISSISSIPPI CODE OF 1972, TO DIRECT THE MISSISSIPPI DEVELOPMENT AUTHORITY TO PROVIDE FOR A PROGRAM OF LOANS OR LOAN GUARANTIES, OR BOTH, TO BE MADE TO OR ON BEHALF OF ANY INTEGRATED POULTRY OPERATION MEETING THE CERTAIN MINIMUM REQUIREMENTS; TO PROVIDE THAT ANY POULTRY OPERATION THAT RECEIVES A LOAN OR LOAN GUARANTY UNDER THIS ACT MUST ENTER INTO BINDING COMMITMENTS PROVIDING THAT IF THOSE REQUIREMENTS ARE NOT MET, THE POULTRY OPERATION SHALL BE REQUIRED TO REPAY ALL OR A PORTION OF THE FUNDS PROVIDED TO OR ON BEHALF OF THE POULTRY OPERATION UNDER THIS PROGRAM; TO PROVIDE THAT MONIES TO MAKE THE LOANS OR LOAN GUARANTIES UNDER THIS PROGRAM SHALL BE DRAWN FROM THE EMERGING CROPS FUND AND SHALL NOT EXCEED $10,000,000.00 IN THE AGGREGATE; TO PROVIDE THAT THE AMOUNT OF A LOAN TO ANY SINGLE POULTRY OPERATION OR LOAN GUARANTY ON BEHALF OF ANY SINGLE POULTRY OPERATION SHALL NOT EXCEED THE TOTAL COST OF THE PROJECT FOR WHICH FINANCING IS SOUGHT OR $10,000,000.00, WHICHEVER IS LESS; TO PROVIDE THAT REPAYMENTS OF ANY LOAN MADE UNDER THIS PROGRAM SHALL BE DEPOSITED INTO THE EMERGING CROPS FUND; TO AMEND SECTION 69-2-19, MISSISSIPPI CODE OF 1972, TO INCREASE THE MAXIMUM AMOUNT OF STATE GENERAL OBLIGATION BONDS THAT MAY BE ISSUED TO PROVIDE FUNDS FOR THE EMERGING CROPS FUND; AND FOR RELATED PURPOSES.
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2005/html/History/HB/HB1696.htm