Mississippi Site Development Grant Fund; revise definitions.

SB 2843 revises definitions for Mississippi's Site Development Grant Fund to clarify what qualifies as "eligible expenditures" (like site clearing, utility upgrades, and infrastructure for industrial properties) and "site development improvements" (including roads, drainage, fiber optics, and utility systems). It directly affects counties, municipalities, and economic development groups (referred to as "eligible entities") seeking grants to improve publicly owned or "optioned" industrial properties (properties under 3-year purchase agreements). The bill establishes a permanent state fund that won’t lapse yearly, requires applicants to provide matching funds, and allows reimbursement for Mississippi Development Authority (MDA) administrative costs up to 3% of grant funds. These changes streamline how local entities access state funds for infrastructure projects aimed at attracting industrial development.