Bill Text: MS HB1511 | 2018 | Regular Session | Introduced
Bill Title: Gulf Coast Restoration Fund; create.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2018-01-30 - Died In Committee [HB1511 Detail]
Download: Mississippi-2018-HB1511-Introduced.html
MISSISSIPPI LEGISLATURE
2018 Regular Session
To: Appropriations
By: Representative DeLano
House Bill 1511
AN ACT TO CREATE A SPECIAL FUND IN THE STATE TREASURY TO BE DESIGNATED AS THE GULF COAST RESTORATION FUND; TO PROVIDE THAT MONIES IN THE SPECIAL FUND SHALL BE USED BY THE SOUTHERN MISSISSIPPI PLANNING AND DEVELOPMENT DISTRICT, UPON APPROPRIATION BY THE LEGISLATURE, BASED UPON THE APPROVAL OF THE BOARD OF TRUSTEES OF THE GULF COAST RESTORATION FUND TO PROVIDE ASSISTANCE UNDER GRANT AND LOAN PROGRAMS ESTABLISHED IN THIS ACT; TO CREATE THE BOARD OF TRUSTEES OF THE GULF COAST RESTORATION FUND; TO PROVIDE FOR THE COMPOSITION OF THE BOARD OF TRUSTEES; TO PROVIDE THAT THE SOUTHERN MISSISSIPPI PLANNING AND DEVELOPMENT DISTRICT SHALL REVIEW APPLICATIONS FOR ASSISTANCE UNDER THIS ACT AND MAKE RECOMMENDATIONS FOR ASSISTANCE TO THE BOARD OF TRUSTEES OF THE GULF COAST RESTORATION FUND; TO PROVIDE THAT THE BOARD OF TRUSTEES SHALL REVIEW A RECOMMENDATION FOR ASSISTANCE PREPARED BY THE SOUTHERN MISSISSIPPI PLANNING AND DEVELOPMENT DISTRICT AND DETERMINE WHETHER AN APPLICANT SHOULD RECEIVE ASSISTANCE UNDER THIS ACT; TO PROVIDE THAT IF THE BOARD OF TRUSTEES OF THE GULF COAST RESTORATION FUND DETERMINES THAT AN APPLICANT SHOULD RECEIVE ASSISTANCE AND VOTES TO APPROVE A RECOMMENDATION FOR ASSISTANCE, THEN THE BOARD OF TRUSTEES SHALL PREPARE AN APPROVAL OF RECOMMENDATION FOR ASSISTANCE AND PROVIDE ITS APPROVAL OF RECOMMENDATION FOR ASSISTANCE TO THE SOUTHERN MISSISSIPPI PLANNING AND DEVELOPMENT DISTRICT WHICH SHALL USE FUNDS FROM THE GULF COAST RESTORATION FUND FOR THE PURPOSE OF PROVIDING THE ASSISTANCE; TO ESTABLISH AN ECONOMIC DEVELOPMENT INFRASTRUCTURE AND BUILDINGS GRANT PROGRAM TO BE ADMINISTERED BY THE SOUTHERN MISSISSIPPI PLANNING AND DEVELOPMENT DISTRICT FOR THE PURPOSE OF PROVIDING STRATEGIC INVESTMENT ON A COMPETITIVE BASIS TO SUPPORT ECONOMIC DEVELOPMENT, FOSTER JOB CREATION AND ATTRACT PRIVATE INVESTMENT IN ORDER TO SUPPORT CONSTRUCTION OF PUBLIC INFRASTRUCTURE AND BUILDING CONSTRUCTION AND RENOVATION THAT WILL BENEFIT PRIVATE BUSINESS ENTERPRISES CREATING NEW JOBS; TO ESTABLISH AN ECONOMIC DEVELOPMENT PUBLIC FACILITIES GRANT PROGRAM TO BE ADMINISTERED BY THE SOUTHERN MISSISSIPPI PLANNING AND DEVELOPMENT DISTRICT FOR THE PURPOSE OF PROVIDING STRATEGIC INVESTMENT ON A COMPETITIVE BASIS TO SUPPORT ECONOMIC DEVELOPMENT, FOSTER IMMEDIATE PUBLIC SECTOR JOB CREATION AND LEVERAGE OTHER PUBLIC OR PRIVATE INVESTMENT IN ORDER TO SUPPORT CONSTRUCTION OF INFRASTRUCTURE AND BUILDING CONSTRUCTION AND RENOVATION THAT WILL BENEFIT PUBLIC AGENCIES OR ORGANIZATIONS IN CREATING NEW PUBLIC SECTOR JOBS; TO ESTABLISH AN ECONOMIC DEVELOPMENT COMMUNITY PREPARATION AND CAPACITY BUILDING GRANT PROGRAM TO BE ADMINISTERED BY THE SOUTHERN MISSISSIPPI PLANNING AND DEVELOPMENT DISTRICT FOR THE PURPOSE OF PROVIDING STRATEGIC INVESTMENTS ON A COMPETITIVE BASIS TO SUPPORT PLANNING, STRATEGIES AND OTHER TECHNICAL ASSISTANCE ACTIVITIES THAT WILL BUILD THE CAPACITY OF COMMUNITIES TO COMPETE FOR ECONOMIC DEVELOPMENT PROJECTS; TO ESTABLISH A SMALL BUSINESS REVOLVING LOAN PROGRAM TO BE ADMINISTERED BY THE SOUTHERN MISSISSIPPI PLANNING AND DEVELOPMENT DISTRICT FOR THE PURPOSE OF PROVIDING LOANS TO SMALL BUSINESSES THAT LACK ACCESS TO TRADITIONAL CAPITAL; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) There is created in the State Treasury a special fund to be designated as the "Gulf Coast Restoration Fund." The special fund 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 by the Southern Mississippi Planning and Development District (SMPDD), upon appropriation by the Legislature, based upon the approval of the Board of Trustees of the Gulf Coast Restoration Fund (board of trustees) to provide assistance under the programs established in Section 2 of this act. The SMPDD may use not more than three percent (3%) of the monies allocated to a program established under Section 2 of this act for the purposes of reimbursing reasonable actual and necessary costs incurred by the SMPDD in administering the applicable program.
(2) (a) There is established a Board of Trustees of the Gulf Coast Restoration Fund to review applications for assistance under Section 2 of this act and recommendations for assistance made by SMPDD. The board of trustees shall consist of nine (9) members as follows:
(i) Three (3) members appointed by the Governor as follows:
1. One (1) member who shall be a resident of Hancock County, Mississippi;
2. One (1) member who shall be a resident of Harrison County, Mississippi; and
3. One (1) member who shall be a resident of Jackson County, Mississippi.
Of the members appointed by the Governor, one (1) member shall be appointed for an initial term of one (1) year, one (1) member shall be appointed for an initial term of two (2) years and one (1) member shall be appointed for an initial term of three (3) years. Upon the expiration of an initial term of office, the Governor shall appoint successors for terms of five (5) years from the expiration date of the previous term. A member appointed under this subparagraph (i) shall serve at the will and pleasure of the Governor and may be removed from the board of trustees by the Governor. A member appointed under this subparagraph (i) shall be eligible for reappointment.
(ii) One (1) member who shall be a resident of Hancock County, Mississippi. Such member shall be appointed by a majority vote of the Board of Supervisors of Hancock County, Mississippi. A member appointed under this subparagraph (ii) shall be appointed for an initial term of one (1) year. Upon the expiration of an initial term of office, the appointing officials shall appoint successors for terms of five (5) years from the expiration date of the previous term. A member appointed under this subparagraph (ii) may be removed from the board of trustees by a unanimous vote of the appointing officials or may be removed by a majority vote of the appointing officials upon receipt of a petition for removal signed by not less than seven (7) members of the board of trustees. A member appointed under this subparagraph (ii) shall be eligible for reappointment.
(iii) One (1) member who shall be a resident of Hancock County, Mississippi. Such member shall be appointed by a majority vote of the mayors of the municipalities located in Hancock County, Mississippi. A member appointed under this subparagraph (iii) shall be appointed for an initial term of two (2) years. Upon the expiration of an initial term of office, the appointing officials shall appoint successors for terms of five (5) years from the expiration date of the previous term. A member appointed under this subparagraph (iii) may be removed from the board of trustees by a unanimous vote of the appointing officials or may be removed by a majority vote of the appointing officials upon receipt of a petition for removal signed by not less than seven (7) members of the board of trustees. A member appointed under this subparagraph (iii) shall be eligible for reappointment.
(iv) One (1) member who shall be a resident of Harrison County, Mississippi. Such member shall be appointed by a majority vote of the Board of Supervisors of Harrison County, Mississippi. A member appointed under this subparagraph (iv) shall be appointed for an initial term of one (1) year. Upon the expiration of an initial term of office, the appointing officials shall appoint successors for terms of five (5) years from the expiration date of the previous term. A member appointed under this subparagraph (iv) may be removed from the board of trustees by a unanimous vote of the appointing officials or may be removed by a majority vote of the appointing officials upon receipt of a petition for removal signed by not less than seven (7) members of the board of trustees. A member appointed under this subparagraph (iv) shall be eligible for reappointment.
(v) One (1) member who shall be a resident of Harrison County, Mississippi. Such member shall be appointed by a majority vote of the mayors of the municipalities located in Harrison County, Mississippi. A member appointed under this subparagraph (v) shall be appointed for an initial term of two (2) years. Upon the expiration of an initial term of office, the appointing officials shall appoint successors for terms of five (5) years from the expiration date of the previous term. A member appointed under this subparagraph (v) may be removed from the board of trustees by a unanimous vote of the appointing officials or may be removed by a majority vote of the appointing officials upon receipt of a petition for removal signed by not less than seven (7) members of the board of trustees. A member appointed under this subparagraph (v) shall be eligible for reappointment.
(vi) One (1) member who shall be a resident of Jackson County, Mississippi. Such member shall be appointed by a majority vote of the Board of Supervisors of Jackson County, Mississippi. A member appointed under this subparagraph (vi) shall be appointed for an initial term of one (1) year. Upon the expiration of an initial term of office, the appointing officials shall appoint successors for terms of five (5) years from the expiration date of the previous term. A member appointed under this subparagraph (vi) may be removed from the board of trustees by a unanimous vote of the appointing officials or may be removed by a majority vote of the appointing officials upon receipt of a petition for removal signed by not less than seven (7) members of the board of trustees. A member appointed under this subparagraph (vi) shall be eligible for reappointment.
(vii) One (1) member who shall be a resident of Jackson County, Mississippi. Such member shall be appointed by a majority vote of the mayors of the municipalities located in Jackson County, Mississippi. A member appointed under this subparagraph (vii) shall be appointed for an initial term of two (2) years. Upon the expiration of an initial term of office, the appointing officials shall appoint successors for terms of five (5) years from the expiration date of the previous term. A member appointed under this subparagraph (vii) may be removed from the board of trustees by a unanimous vote of the appointing officials or may be removed by a majority vote of the appointing officials upon receipt of a petition for removal signed by not less than seven (7) members of the board of trustees. A member appointed under this subparagraph (vii) shall be eligible for reappointment.
A person appointed to fill a vacancy on the board of trustees shall be appointed in the same manner as for a regular appointment.
(b) Members of the board of trustees shall serve without compensation, but shall be reimbursed for each day's official duties of the board at the same per diem as established by Section 25-3-69, and actual travel and expenses as established by Section 25-3-41.
(c) The board of trustees shall annually elect one (1) member to serve as chairman of the board and one (1) member to serve as vice chairman of the board. The vice chairman shall act as chairman in the absence of or upon the disability of the chairman or if there is a vacancy in the office of chairman.
(d) All expenses of the board of trustees in carrying out its duties and responsibilities under this section, including the payment of per diem and expenses of the members of the board, shall be paid from funds appropriated from the Gulf Coast Restoration Fund for that purpose.
(e) The board of trustees shall have all powers necessary to implement and carry out the purposes and provisions of this section, including, but not limited to, the following express powers:
(i) To contract for necessary goods and services, to employ necessary personnel, and to engage the services of other persons for administrative and technical assistance in carrying out its duties and responsibilities under this section; and
(ii) To enter into other contracts and/or agreements that the board of trustees determines to be necessary in carrying out its duties and responsibilities under this section.
(f) The board of trustees shall establish a procedure for accepting and reviewing applications for assistance and recommendations for assistance made by the SMPDD under this act.
(3) (a) The SMPDD shall establish a procedure for accepting and reviewing applications for assistance under Section 2 of this act.
(b) The SMPDD shall review applications for assistance and determine whether to recommend to the board of trustees that an applicant should receive assistance under Section 2 of this act. If the SMPDD determines to recommend that an applicant should receive assistance, then the SMPDD shall prepare a recommendation for assistance. A recommendation for assistance shall provide the purpose for which the assistance is to be provided, the type of assistance to be provided in the form of applicable loan or grant funds, the amount of assistance to be provided, whether the applicant must provide matching funds and any other information determined necessary by the SMPDD. Before providing recommendations for assistance to the board of trustees, the SMPDD shall provide copies of such recommendations to the legislative advisory group created in subsection (4) of this section.
(4) There is established a legislative advisory review group comprised of the following persons: (a) the members of the House of Representatives representing House Districts 93, 95, 107, 109, 110, 111, 112, 113, 114, 115, 116, 117, 118, 119, 120, 121 and 122, respectively and (b) the members of the Senate representing Senate Districts 46, 47, 48, 49, 50, 51 and 52, respectively. The legislative advisory group shall serve only in an advisory capacity in reviewing recommendations for assistance made by the SMPDD and may not take any action to approve or disapprove a recommendation for assistance. After having a reasonable time to review a recommendation for assistance made by the SMPDD, the legislative advisory group shall return the recommendation to the SMPDD and the SMPDD shall forward the recommendation for assistance to the board of trustees.
(5) The board of trustees shall review a recommendation for assistance prepared by the SMPDD and determine whether the applicant should receive assistance under Section 2 of this act. In order to approve a recommendation for assistance, not less than seven (7) members of the board of trustees must vote in favor of such approval. If the board of trustees determines that an applicant should receive assistance and votes to approve a recommendation for assistance, then the board of trustees shall prepare an approval of recommendation for assistance. An approval of recommendation for assistance by the board of trustees shall provide the purpose for which the assistance is to be provided, the type of assistance to be provided in the form of applicable loan or grant funds, the amount of assistance to be provided, whether the applicant must provide matching funds and any other information determined necessary by the board of trustees. The board of trustees shall provide its approval of recommendation for assistance to the SMPDD and the SMPDD shall use funds from the Gulf Coast Restoration Fund for the purpose of providing the assistance.
(6) The SMPDD shall establish a procedure to monitor performance and ensure conformity to the original commitments for all recipients of assistance under this act. The SMPDD shall require performance measures for each award of assistance to ensure a return on a project is achieved. The SMPDD shall take all actions necessary, including, but not limited to, suspension of disbursement of assistance, to ensure any assistance awarded meets or exceeds any original application of assistance.
(7) The SMPDD 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, including detailed information regarding at least the following specific areas:
(a) Receipts and expenditures of the funds under this act used for administration of the Gulf Coast Restoration Fund;
(b) Overview of applications reviewed and a detailed description of applications approved by the board of trustees for assistance for the current year;
(c) Schedule of all applications awarded funds under this act detailing status of progress, start date, anticipated completion date, benchmark achievements, and any modifications to the original application after receipt of assistance; and
(d) Statement from the executive director of the SMPDD regarding effectiveness and efficiency of the Gulf Coast Restoration Fund and documenting any recommendations to ensure goals of the fund are achieved. The executive director shall also provide any areas of concern with past, present, and future administration of the fund.
(8) The SMPDD shall have all powers necessary to implement and administer the provisions of this section.
SECTION 2. (1) (a) There is established an economic development infrastructure and buildings grant program for the purpose of providing strategic investment on a competitive basis to support economic development, foster job creation and attract private investment in order to support construction of public infrastructure and building construction and/or renovation that will benefit private business enterprises creating new jobs. The program shall be administered by the Southern Mississippi Planning and Development District (SMPDD). Counties, municipalities and/or a consortium of such entities and institutions of higher learning and/or a consortium of such institutions are eligible to apply for assistance in the form of grants under the program.
(b) An entity desiring assistance under the program must submit an application to the SMPDD. The application must include:
(i) The identity of a private business enterprise with which the applicant is participating in a project and assurances of job creation and private investment for intervals of three (3), six (6) and nine (9) years after completion of the project for which assistance is requested;
(ii) A description of the purpose for which assistance is requested;
(iii) The amount of assistance requested;
(iv) The estimated total cost of the project; and
(v) Any other information required by the SMPDD.
(c) The SMPDD may establish minimum and maximum amounts for assistance that may be provided under this subsection (1). Assistance provided under this subsection (1) may not be used for (i) costs associated with a project if the costs are incurred before an award of such assistance is made or (ii) the portion of any engineering and design costs associated with a project which exceeds ten percent (10%) of the cost of the project for which assistance is provided.
(d) The SMPDD shall review applications for assistance under this subsection (1) in the manner provided in Section 1 of this act.
(2) (a) There is established an economic development public facilities grant program for the purpose of providing strategic investment on a competitive basis to support economic development, foster immediate public sector job creation and leverage other public or private investment in order to support construction of infrastructure and building construction and/or renovation that will benefit public agencies or organizations in creating new public sector jobs. The program shall be administered by the SMPDD. Counties, municipalities and/or a consortium of such entities and institutions of higher learning and/or a consortium of such institutions are eligible to apply for assistance in the form of grants under the program.
(b) An entity desiring assistance under the program must submit an application to the SMPDD. The application must include:
(i) Immediate job creation projections by the responsible public entity for the project;
(ii) A description of the purpose for which assistance is requested;
(iii) The amount of assistance requested;
(iv) The estimated total cost of the project; and
(v) Any other information required by the SMPDD.
(c) The SMPDD may establish minimum and maximum amounts for assistance that may be provided under this subsection (2). Assistance provided under this subsection (2) may not be used for (i) costs associated with a project if the costs are incurred before an award of such assistance is made or (ii) the portion of any engineering and design costs associated with a project which exceeds ten percent (10%) of the cost of the project for which assistance is provided.
(d) The SMPDD shall review applications for assistance under this subsection (2) in the manner provided in Section 1 of this act.
(3) (a) There is established an economic development community preparation and capacity building grant program for the purpose of providing strategic investments on a competitive basis to support planning, strategies and other technical assistance activities that will build the capacity of communities to compete for economic development projects. The program shall be administered by the SMPDD. The following entities are eligible to apply for assistance under the program: (i) counties, municipalities and/or a consortium of such entities, (ii) institutions of higher learning and/or a consortium of such institutions and (iii) private nonprofit organizations with a mission of creating economic development opportunities.
(b) An entity desiring assistance under the program must submit an application to the SMPDD. The application must include:
(i) A description of the purpose for which assistance is requested;
(ii) The amount of assistance requested;
(iii) The estimated total cost of the project; and
(iv) Any other information required by the SMPDD.
(c) The SMPDD may establish minimum and maximum amounts for assistance that may be provided under this subsection (3). In addition: (i) assistance provided under this subsection (3) may not be used for costs associated with a project if the costs are incurred before an award of such assistance is made and (ii) assistance provided under this subsection (3) may be used for engineering and design costs associated with a project if the project results in a completed plan that can be immediately implemented.
(d) The SMPDD shall review applications for assistance under this subsection (3) in the manner provided in Section 1 of this act.
(4) (a) There is established a small business revolving loan program for the purpose of providing loans to small businesses that lack access to traditional capital. The program shall be administered by the SMPDD. The SMPDD shall establish criteria for determining whether a business is a small business for purposes of being eligible to apply for assistance under this subsection (4).
(b) A small business desiring assistance under the program must submit an application to the SMPDD. The application must include:
(i) A description of the purpose for which assistance is requested;
(ii) The amount of assistance requested;
(iii) The estimated total cost of the project; and
(iv) Any other information required by the SMPDD.
(c) (i) The SMPDD may establish minimum and maximum amounts for assistance that may be provided under this section.
(ii) Assistance may be provided under this subsection (4) for the purchase and/or lease of land, buildings, machinery, equipment, inventory and/or working capital. However, assistance may not be provided to nonprofit organizations or finance companies or for speculative land or real estate investment.
(iii) The maximum term for any loan under the program shall not exceed the following:
1. Fifteen (15) years if used to purchase and/or lease land or buildings;
2. Seven (7) years if used to purchase and/or lease machinery or equipment; and
3. Seven (7) years if used to purchase inventory or used for working capital.
(iv) Assistance may be provided under the program to provide the sole financing for a small business as well as used to provide financing for a small business in conjunction with financing provided by a bank or other financial institution.
(v) A small business receiving a loan under this subsection (4) shall pay an origination fee in an amount equal to one percent (1%) of the amount of the loan.
(d) Repayments of loans made under this subsection (4) shall be deposited into the Gulf Coast Restoration Fund created in Section 1 of this act.
(e) The SMPDD shall review applications for assistance under this subsection (4) in the manner provided in Section 1 of this act.
(5) The SMPDD shall have all powers necessary to implement and administer the programs established under this section and for the implementation of this section.
SECTION 3. This act shall take effect and be in force from and after July 1, 2018.
