SB 2844 Mississippi Senate · 2025 Regular Session

TVA Service Area Utilities Grant Fund; establish, and fund with g.o. bonds and diversion of TVA payments in lieu of taxes.

SB 2844 establishes a dedicated "TVA Service Area Utilities Grant Fund" in Mississippi's state treasury, funded initially by $25 million in state general obligation bonds and future diverted payments from the Tennessee Valley Authority (TVA) in lieu of taxes. The fund provides grants to local utility companies in Mississippi's TVA service area to improve infrastructure, with priority for entities affected by the March 2023 storms and matching grants for projects aligned with federal programs. It requires the Okolona Electric Department to commit to spending matching funds for distribution line improvements outside the city if it receives aid. The Mississippi Development Authority (MDA) administers the program, distributes funds, and must report annually to the legislature on all grant usage.

Bill status died 3 of 5 stages cleared

Introduction

Feb 2025

Committee Review

Feb 2025

Senate Passage

Feb 2025

House Passage

Governor

Introduced Feb 27, 2025 Last action Mar 18, 2025

Maddy AI version diff · 2 comparisons

What changed between versions

Committee Substitute → Current version · 1 edit

MINOR

The bill title was updated from 'Committee Substitute' to 'As Passed the Senate', reflecting that the legislation has been approved by the Senate committee and is now in its current form. This change indicates the bill has progressed through the legislative process and is ready for further consideration or passage.

TECHNICAL

The bill's version identifier was changed from 'Committee Substitute' to 'As Passed the Senate', indicating the bill has been amended and approved by the Senate committee.

As Introduced → Committee Substitute · 8 edits

MODERATE

This bill was amended to clarify its purpose, add new definitions, and modify the distribution of TVA payments to create a new grant fund for local utilities in the TVA service area. The Committee Substitute version includes more detailed provisions for grant applications, fund management, and specific conditions for funding the Okolona Electric Department.

Scope change

The bill's scope was expanded to include a new special fund for grants to local utilities in the TVA service area, with specific provisions for bond issuance and fund management.

SCOPE

The bill title and purpose were updated to reflect the creation of a new TVA Service Area Utilities Grant Fund and to authorize the issuance of $25 million in state general obligation bonds for this purpose.

DEFINITION

New definitions were added for key terms including 'Eligible entity', 'Eligible expenditures', 'MDA', and 'TVA' to clarify the bill's language.

FISCAL

A new special fund was created in the State Treasury to receive monies from the issuance of state bonds and to provide grants to eligible entities in the TVA service area.

The distribution of TVA payments was modified to include a new allocation to the TVA Service Area Utilities Grant Fund, with specific percentages allocated to different counties and municipalities.

REQUIREMENT

New requirements were added for grant applications, including detailed information about eligible expenditures, requested assistance, and matching funds.

A new condition was added requiring the Okolona Electric Department to sign an agreement committing to spend an amount equal to half the state grant to improve distribution lines outside the City of Okolona, with a refund provision if the condition is not met within one year.

TIMELINE

The effective date of the act was changed to July 1, 2025, with a repeal date of June 30, 2025, indicating the bill is intended to be temporary or subject to further legislative action.

TECHNICAL

Additional technical provisions were added regarding bond issuance, including details on bond registration, interest rates, and the authority of the State Bond Commission to issue and manage the bonds.

Floor votes · Senate Feb 26, 2025

How they voted

49–1

Passed · 1 other

Total votes 51

Feb 26, 2025

D Democratic16

15 Yea 1

93% Yea

R Republican35

34 Yea 1 Nay

97% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 28, 2025

Committee

Referred To Ways and Means

lower

Feb 27, 2025

Introduced

Transmitted To House

upper

Feb 26, 2025

Upper · Passed

Passed

upper

Feb 25, 2025

Upper · Passed

Title Suff Do Pass Comm Sub

upper

Jan 20, 2025

Committee

Referred To Finance

upper

1 primary · 3 co-sponsors