Credit Enhancement Program; establish to improve credit worthiness of schools.

HB 1564 establishes a state guarantee program for Mississippi school districts' voter-approved general obligation bonds. It directly affects school districts that issue bonds, allowing them to borrow at lower interest rates by leveraging the state's credit without creating state debt. The program requires school districts to pay debt service through county tax collectors to paying agents; if payments are missed, the state treasurer covers them and the district must repay the state with interest. The guarantee applies only to bonds issued after January 1, 2026, and includes specific repayment terms and penalties for districts that fail to meet obligations.