Defense Research and Development Program; create.

This bill establishes the Defense Research and Development Program in Mississippi to provide loan assistance for seed and early-stage capital to small and medium-sized businesses with high growth potential. The program specifically targets businesses conducting research and development activities in partnership with the Mississippi Military Department, Mississippi National Guard, or state universities and colleges. A special fund will be created in the State Treasury to hold and manage these loan monies, with funds disbursed by the Mississippi Military Department based on legislative appropriation. Businesses interested in participating must submit applications detailing their purposes, requested amounts, and other relevant information to the department. The program will begin operations on July 1, 2026.