Signed by Governor Tate Reeves

Vote Smart's Synopsis:

Vote to pass a bill that establishes the Triple Crown Project Fund.

Highlights:

• Establishes the “Triple Crown Project Fund” which shall consist of monies from any source designated for deposit into the fund (Sec. 1).

• Specifies that money in the fund shall be disbursed by the Mississippi Development Authority for the purpose of providing grants or loans to certain flat-rolled aluminum production facilities, biocarbon production facilities, certain other industrial facilities, and related port improvement projects (Sec. 1).

• Specifies that money appropriated out of the fund may be used to reimburse reasonable, actual, and necessary oversight costs and engineering expenses incurred by the Mississippi Development Authority in providing grants or loans (Sec. 1).

• Specifies that on or before January 5 of each year, the Mississippi Development Authority shall file an accounting report on the number of loans and grants disbursed by the Triple Crown Project Fund (Sec. 1).

• Establishes that upon the effective date of this act, the State Fiscal Officer shall transfer $81,105,000 into the Triple Crown Project Fund (Sec. 2).

• Specifies that this act is effective upon its passage (Sec. 3).

Full Bill Text