Housing

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.

HB 576 would create a $1,000 annual income tax credit for Mississippi businesses (like corporations, LLCs, or nonprofits) that provide transitional housing to people recently released from prison for misdemeanor or felony convictions. This credit is specifically for housing individuals who struggle to find stable housing after incarceration while they try to rebuild their lives. The credit is limited to the business’s total annual income tax bill, with unused credits carrying forward for up to five years. The bill defines "transitional housing" as temporary housing supporting those facing housing barriers post-release. (Note: The bill died in committee on February 26, 2025, and did not become law.)