Housing (Housing Finance)

HB 505 creates the Mississippi Special Needs Housing Steering Council to develop and oversee a new state housing program. The council, composed of state agency leaders and community advocates (including a resident representative), will assist the Mississippi Home Corporation in designing housing solutions for individuals with mental illness, developmental disabilities, and other special needs populations - such as formerly incarcerated persons, people with HIV/AIDS, or homeless families - as defined by the council. Key provisions require the program to provide bridge funding and community-integrated housing, with funding sourced from the Mississippi Affordable Housing Development Fund or a dedicated sustainable source. The bill establishes a formal structure for coordination but does not directly change existing housing laws or funding levels.

HB 438 establishes a state-funded program to provide home repair grants for low-income Mississippi homeowners, primarily targeting seniors (62+), disabled residents, and households with incomes under $12,000 (single) or $16,000 (two or more people). The Department of Finance and Administration will administer the program, offering grants up to $25,000 per household for essential repairs, with eligibility requiring primary home ownership, age/disability status, and income limits. Funding will come from up to $50 million in state bonds, with money distributed to congressional districts based on each district's share of the state's low-income population. Unspent funds will remain in a dedicated state account and not roll into the general budget.

SB 2091 would authorize Mississippi to issue state bonds to provide funds for the redevelopment of 100 public housing units in Canton. The Canton Housing Authority would receive the bond proceeds to cover costs like renovation and construction of these units. The bonds would be backed by the state's full faith and credit, meaning Mississippi would repay them using general state funds if needed. All money raised would be used exclusively for this housing project, with no other purposes allowed.

HB 431 creates a pilot program providing low-interest loans (1% annual interest) to homeowners in Mississippi's 10 poorest counties, as defined by U.S. Census data. Eligible applicants must have a household income under $30,000 annually, own the property they wish to repair or build on, and have been denied conventional loans in the past year. The program is funded by $3 million in state bonds, repaid through new fees collected when recording property deeds and deeds of trust, which will be deposited into a dedicated sinking fund. The Mississippi Development Authority will administer the program and establish rules for implementation.