Senate Bill 2291

AN ACT TO AMEND SECTION 57-1-301, MISSISSIPPI CODE OF 1972, TO REVISE THE ELIGIBILITY OF PROGRAMS UNDER THE CAPITAL IMPROVEMENTS REVOLVING LOAN PROGRAM; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Section 57-1-301, Mississippi Code of 1972, is amended as follows:

57-1-301. (1) There is established a local governments capital improvements revolving loan program to be administered by the Mississippi Development Authority for the purpose of assisting counties and municipalities in making capital improvements.

(2) For purposes of Sections 57-1-301 through 57-1-335, "capital improvements" include any combination of the following:

(a) Construction or repair of water and sewer facilities;

(b) Construction or repair of drainage systems for industrial development;

(d) Construction of new buildings for economic development purposes;

(e) Renovation or repair of existing buildings for economic development purposes;

(f) Construction or repair of access roads for industrial development;

(g) Purchase of buildings for economic development purposes;

(h) Construction or repair of railroad spurs for industrial development;

(i) Construction of any county or municipally owned health care facilities, excluding any county health departments;

(j) Construction, purchase, renovation or repair of any building to be utilized as an auditorium or convention center;

(k) Construction of multipurpose facilities for tourism development; * * *

(l) Loans to a county to aid in retiring interest-bearing loans utilized for the purchase of a motion picture sound stage; or

(m) Construction, renovation or repair of parks and recreational facilities.

SECTION 2. This act shall take effect and be in force from and after July 1, 2002.