Mississippi Main Street Revitalization Grant Program Act; revise certain provisions., the official text

MISSISSIPPI LEGISLATURE

2026 Regular Session

To: Ways and Means

By: Representatives Creekmore IV, Scott

House Bill 1716

(As Sent to Governor)

AN ACT TO AMEND SECTION 57-78-5, MISSISSIPPI CODE OF 1972,
TO REVISE AND TO PROVIDE CERTAIN DEFINITIONS OF TERMS UNDER THE MISSISSIPPI
MAIN STREET REVITALIZATION GRANT PROGRAM ACT; TO REVISE CERTAIN PROVISIONS
RELATING TO THE ADMINISTRATION OF THE  MISSISSIPPI MAIN STREET REVITALIZATION
GRANT PROGRAM; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE
LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1.  Section
57-78-5, Mississippi Code of 1972, is amended as follows:

57-78-5.  (1)  For the
purposes of this section:

(a)  "Eligible
recipient" means a:

(i)  Main Street
Designated Community, or local Main Street program that has achieved and
maintained Designated Community Status by the Mississippi Main Street
Association (MMSA), that is a good-standing member of the MMSA, and that
has obtained Section 501(c)(3) tax-exempt status or 501 (c)(4) tax-exempt
status or Section 501(c)(6) tax-exempt status from the Internal Revenue
Service;

(ii)  Main Street
Network Community;

(iii)  Main Street
Associate Community;

(iv)  Cities and
counties located in Mississippi that otherwise meet the requirements of
this chapter; or

(v)  Business
improvement districts that otherwise meet the requirements of this chapter.

(b)  "Matching
funds" means cash funds that are either in the applicant's possession or
proposed by a match partner and clearly identified in a support letter and are
reserved for the proposed project.  No state funds may be included in
determining the amount of the match.

(c) * * *"Administrator" "MMSA"
means the Mississippi Main Street Association.

(2)  The * * * administrator Mississippi
Development Authority shall accept applications from eligible
recipients, prioritize their applications and, in consultation with the
MMSA, submit a list of suggested recipients to the Legislature no later
than December of each year. * * *Applicants who did not receive a grant the prior year
shall receive priority for a grant the following year. The
Legislature shall review the submitted list and determine the projects for
which to award grants to eligible recipients through the Mississippi
Development Authority.

The * * *administrator Mississippi Development
Authority will consider projects in relation to the following criteria:

(a)  The demonstration of
local financial need;

(b)  Projects that
demonstrate high local impact;

(c)  Projects that
produce a high level of public benefit;

(d)  Projects that
demonstrate best practices in preservation;

(e)  Projects that will
have local administration and implementation capacity;

(f)  The distribution
of geographic size and location of the project; and

(g)  Projects that will
be completed on time * * *;
and.

* * *  (h)  Projects that are according to the Main Street
Approach and Guiding Principles or a comparable community plan.

(3)  The Mississippi
Development Authority shall provide grant funds to the eligible recipients
under this section on a reimbursement basis, not to exceed Five Hundred
Thousand Dollars ($500,000.00) per community each year, and grantees shall not
receive compensation for their required twenty percent (20%) of local match
funds, which must cover at least twenty percent (20%) of the total project
cost.  Municipalities, or eligible recipients within a municipality, with a
population of over ten thousand (10,000) are required to possess local matching
funds to cover at least twenty percent (20%) of the total project cost.  Municipalities,
or eligible recipients within a municipality, with a population of less than
ten thousand (10,000), shall be required to have a local cash match of ten
percent (10%) for the first One Hundred Thousand Dollars ($100,000.00)
requested, then will be required to have a local cash match of twenty percent
(20%) for any amount over One Hundred Thousand Dollars ($100,000.00).

(4)  Eligible costs for the
expenditure of grant funds include the acquisition of land and any improvements
thereon, preservation of historic downtown structures and sites, and
initiatives that will produce a revitalization to the economy of the historic
downtown areas.

(5)  Grants may be awarded
for prospective purchases or for acquisitions of which the applicant has
closed.  In the latter case, the applicant shall demonstrate:

(a)  The closing
occurred no more than twelve (12) months prior to the date of application for
the grant; and

(b)  The subject
purchase was made to help preserve and revitalize the location and economy of a
historic downtown community.

(6)  Any eligible recipient
that is awarded a grant pursuant to this section for a project involving a
historic property must comply with all applicable laws relating to the
property, as well as applicable regulations of the Mississippi Department of
Archives and History, or other department or agency relating to such property.

(7)  Grantees must adhere to
Mississippi state procedures and guidelines relating to the implementation and
financing of the approved project.  Grantees must also submit any and all audit
and financial statements as required by the State of Mississippi.

(8)  Nothing in this section
shall preclude the subsequent  transfer or assignment by a state agency or
other owner or holder of any property interest acquired pursuant to this
section to the State of Mississippi, the county, city, town or municipality in
which the land is located, for the purpose of further preserving, improving or
maintaining the downtown property.  The Mississippi Development Authority shall
facilitate transfers and assignments of any such interests held by the
department.

(9)  There is created in the
State Treasury a special fund to be known as the "Mississippi
Main Street Revitalization Grant Program Fund," which shall consist of
funds made available by the Legislature in any manner, funds received as
grants, endowments or gifts from the federal government, its agencies and
instrumentalities, and funds from any other source designated for deposit into
such fund.  The fund shall be maintained by the State Treasurer as a separate
and special fund, separate and apart from the General Fund of the state.
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 Mississippi Development Authority, upon
appropriation by the Legislature, for the purposes provided in this section.

(10)  The Mississippi
Development Authority shall administer the fund and establish guidelines for
the expenditure of grant funds and reports relating to the expenditure of grant
funds.  The * * *department
shall provide the administrator with Mississippi Development
Authority may use no more than two percent (2%) of the amount of funds
deposited into the Mississippi Main Street Revitalization Grant Fund for
administrative expenses in carrying out its duties under this section.

(11)  To carry out this
chapter, the Mississippi Development Authority may enter into cooperative
agreements with entities in the public and private sectors, including:

(a)  Colleges and
universities;

(b)  Historical
societies;

(c)  State and local
agencies; and

(d)  Nonprofit
organizations.

(12)  To develop cooperative
land-use strategies and conduct  activities that facilitate the conservation of
the historic, cultural, natural and scenic resources, the Mississippi
Development Authority may require that recipients seek and secure technical
assistance from the * * *administrator
MMSA, to the extent that a recipient of technical assistance is engaged
in the protection, interpretation or commemoration of historically significant
property in the area in and around the historic downtown site. * * *The administrator will provide administrative support to
eligible recipients to ensure proper grant administration and project
implementation.

SECTION 2.  This act
shall take effect and be in force from and after July 1, 2026.