Establishes the "First-Time Homebuyers Home Upgrade Revolving Fund" to assist first-time homeowners with home repairs and upgrades.
The bill establishes the "First-Time Homebuyers Home Upgrade Revolving Fund" administered by the Mississippi Home Corporation. This fund will provide grants to first-time homeowners for necessary repairs and upgrades to single-family rental properties. The fund aims to enhance post-repair listing prices and offer lending options. The grant pilot program will commence after July 1, 2026, with a maximum fund balance of One Million Dollars ($1,000,000.00). Homes must meet code compliance and modernization standards.
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