SB 3165 Mississippi Senate · 2025 Regular Session

Bonds; authorize issuance for various Mississippi Development Authority programs.

SB 3165 authorizes $81 million in state general obligation bonds for Mississippi economic development programs. It increases funding limits for multiple existing funds, including $20 million for site development grants to municipalities, $20 million for port/airport revitalization, $25 million for business investment loans, and smaller increases for equipment grants, highway projects, and economic impact initiatives. These bonds directly support local governments, counties, and public infrastructure projects like port facilities, equipment purchases, and economic growth efforts. The bill extends the deadline for one fund until July 2029 and amends several sections of Mississippi law to implement these bond authorizations.
Bill status signed all 5 stages cleared
Introduction
Feb 2025
Committee Review
Mar 2025
Senate Passage
Feb 2025
House Passage
Mar 2025
Signed into Law
Apr 2025
Introduced Feb 28, 2025 Signed Apr 17, 2025
Maddy AI version diff · 2 comparisons

What changed between versions

As Introduced As Passed the upper · 9 edits
MAJOR
This bill authorizes the issuance of $20 million in state bonds for the Mississippi Site Development Grant Fund and $10 million for the ACE Fund. It also increases bond authority limits for several Mississippi Development Authority programs, including infrastructure grants, port/airport loans, and defense base closure projects. The legislation removes the State Bond Commission's authority to determine the sale method for certain bonds and extends the bond issuance period for the Industry Incentive Financing Revolving Fund until July 1, 2029.
Scope change
The bill expands the scope of bond-authorized funding across multiple economic development programs, increasing available bond proceeds for infrastructure, port/airport facilities, and defense-related projects while modifying how bonds are sold and when they may be issued.
FISCAL

Authorizes $20,000,000 in state general obligation bonds for the Mississippi Site Development Grant Fund to support industrial site development improvements.

Authorizes $10,000,000 in state general obligation bonds for the ACE Fund to support economic development initiatives.

Increases bond authority under the Mississippi Business Investment Act by $25,000,000 to expand available funding for economic development grants and loans.

Increases bond proceeds available for equipment and public facilities grants by $5,000,000 to aid infrastructure improvements and public facility construction.

Increases bond proceeds available for port, airport, and rail revitalization loans by $20,000,000 to support commerce and economic growth projects.

Increases bond authority under the Mississippi Major Economic Impact Act by $5,000,000 for defense base closure and realignment projects.

Increases bond authority for the Mississippi Industry Incentive Financing Revolving Fund by $20,000,000 and extends the bond issuance period until July 1, 2029.

REQUIREMENT

Removes the State Bond Commission's authority to determine the appropriate method for selling certain bonds and to negotiate their sale, transferring this authority elsewhere.

TIMELINE

Extends the period during which bonds may be issued for the Mississippi Industry Incentive Financing Revolving Fund until July 1, 2029.

Floor votes · Senate Feb 26, 2025 · House Mar 18, 2025

How they voted

510
Passed
Total votes 51
Feb 26, 2025
D Democratic16
16 Yea
100% Yea
R Republican35
35 Yea
100% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
19
Key actions
9
Committee
6
Amendments
2
Apr 17, 2025
Signed into law
Approved by Governor
executive
Mar 31, 2025
Lower · Passed
Conference Report Adopted
lower
Mar 28, 2025
Upper · Passed
Conference Report Filed
upper
Mar 18, 2025
Lower · Passed
Passed As Amended
lower
Mar 18, 2025
Lower · Passed
Amended
lower
Mar 17, 2025
Lower · Passed
Title Suff Do Pass As Amended
lower
Mar 3, 2025
Committee
Referred To Ways and Means
lower
Feb 28, 2025
Introduced
Transmitted To House
upper
Feb 26, 2025
Upper · Passed
Passed As Amended
upper
Feb 26, 2025
Upper · Passed
Amended
upper
Feb 25, 2025
Upper · Passed
Title Suff Do Pass
upper
Feb 24, 2025
Committee
Referred To Finance
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Josh Harkins
Josh Harkins
RRepublican
MS
20