Establishes the Housing Loan Assistance Pilot Program to provide loans for home repair or construction to eligible residents in Mississippi's poorest.
The bill creates the Housing Loan Assistance Pilot Program, administered by the Mississippi Development Authority, to provide loans for home repair or construction to eligible residents. Eligible applicants must reside in one of Mississippi's ten poorest counties, be at least 65 years old or legally disabled, own the property, and have a household income not exceeding $30,000 annually. The program authorizes the issuance of up to $3,000,000 in state general obligation bonds to fund the program.
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