Section 57-1-18 - Small Municipalities and Limited Population Counties Fund; definitions; creation; grant program; qualifications for assistance; promulgation of rules and regulations; annual report(1) For the purposes of this section, the following terms shall have the meanings ascribed in this section unless the context clearly indicates otherwise: (a) "Limited population county" means a county in the State of Mississippi with a population of thirty thousand (30,000) or less according to the most recent federal decennial census at the time the county submits its application to the MDA under this section.(b) "MDA" means the Mississippi Development Authority.(c) "Project" means highways, streets and other roadways, bridges, sidewalks, utilities, airfields, airports, acquisition of equipment, acquisition of real property, development of real property, improvements to real property, and any other project approved by the MDA.(d) "Small municipality" means a municipality in the State of Mississippi with a population of ten thousand (10,000) or less according to the most recent federal decennial census at the time the municipality submits its application to the MDA under this section. The term "small municipality" also includes a municipal historical hamlet as defined in Section 17-27-5.(2)(a) There is hereby created in the State Treasury a special fund to be designated as the "Small Municipalities and Limited Population Counties Fund," which shall consist of funds appropriated or otherwise made available by the Legislature in any manner and funds from any other source designated for deposit into such fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any investment earnings or interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be used to make grants to small municipalities and limited population counties or natural gas districts created by law and contained therein to assist in completing projects under this section.(b) Monies in the fund which are derived from proceeds of bonds issued under Sections 1 through 16 of Chapter 538, Laws of 2002, Sections 1 through 16 of Chapter 508, Laws of 2003, Sections 55 through 70 of Chapter 1, Laws of 2004 Third Extraordinary Session, Sections 1 through 16 of Chapter 482, Laws of 2006, Section 15 of Chapter 580, Laws of 2007, Section 1 of Chapter 503, Laws of 2008, Section 42 of Chapter 557, Laws of 2009, Section 38 of Chapter 533, Laws of 2010, Section 41 of Chapter 480, Laws of 2011, Section 30 of Chapter 569, Laws of 2013, Section 4 of Chapter 530, Laws of 2014, Section 11 of Chapter 472, Laws of 2015, Section 19 of Chapter 511, Laws of 2016, Section 5 of Chapter 452, Laws of 2018, Section 19 of Chapter 454, Laws of 2019, or Section 11 of Chapter 492, Laws of 2020, may be used to reimburse reasonable actual and necessary costs incurred by the MDA for the administration of the various grant, loan and financial incentive programs administered by the MDA. An accounting of actual costs incurred for which reimbursement is sought shall be maintained by the MDA. Reimbursement of reasonable actual and necessary costs shall not exceed three percent (3%) of the proceeds of bonds issued. Reimbursements under this subsection shall satisfy any applicable federal tax law requirements.(3) The MDA shall establish a grant program to make grants to small municipalities and limited population counties from the Small Municipalities and Limited Population Counties Fund. Grants made under this section to a small municipality or a limited population county shall not exceed Two Hundred Fifty Thousand Dollars ($250,000.00) during any grant period established by the MDA. A small municipality or limited population county may apply to the MDA for a grant under this section in the manner provided for in this section.(4) A small municipality or limited population county desiring assistance under this section must submit an application to the MDA. The application must include a description of the project for which assistance is requested, the cost of the project for which assistance is requested, the amount of assistance requested and any other information required by the MDA.(5) The MDA shall have all powers necessary to implement and administer the program established under this section, and the department shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation of this section.(6) The MDA shall file an annual report with the Governor, the Secretary of the Senate and the Clerk of the House of Representatives not later than December 1 of each year, describing all assistance provided under this section.Laws, 2000, 2nd Ex Sess, ch. 1, § 57; Laws, 2002, ch. 538, § 17; Laws, 2003, ch. 508, § 17; Laws, 2004, 3rd Ex Sess., ch. 1, § 71; Laws, 2006, ch. 482, § 17; Laws, 2007, ch. 580, § 16; Laws, 2008, ch. 503, § 2; Laws, 2009, ch. 557, § 43; Laws, 2010, ch. 533, § 39; Laws, 2011, ch. 390, § 2; Laws, 2011, ch. 480, § 42, eff. 4/6/2011.Amended by Laws, 2020, ch. 492, HB 1730,§ 12, eff. 7/8/2020.Amended by Laws, 2019, ch. 453, SB 2272,§ 2, eff. 7/1/2019.Amended by Laws, 2019, ch. 454, SB 3065,§ 20, eff. 4/12/2019.Amended by Laws, 2018, ch. 452, HB 1649,§ 6, eff. 7/1/2018.Amended by Laws, 2016, ch. 511, HB 1729, 20, eff. 7/1/2016.Amended by Laws, 2015, ch. 472, SB 2906, 12, eff. 7/1/2015.Amended by Laws, 2014, ch. 530, HB 787, 5, eff. 7/1/2014.Amended by Laws, 2013, ch. 569, SB 2913, 31, eff. 4/25/2013.