Read the full stored bill text
H. B. No. 1393 *HR26/R2078SG* ~ OFFICIAL ~ G1/2
26/HR26/R2078SG
PAGE 1 (BS\KW)
To: Public Utilities; Ways
and Means
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026
By: Representatives Powell, Hale
HOUSE BILL NO. 1393
(As Sent to Governor)
AN ACT TO CREATE THE MISSISSIPPI ENERGY INFRASTRUCTURE FUND; 1
TO DEFINE TERMS; TO PROVIDE FOR USES OF THE FUNDS; TO AUTHORIZE 2
THE MISSISSIPPI DEVELOPMENT AUTHORITY TO MAKE GRANTS, LOANS OR 3
PROVIDE ANY OTHER FINANCIAL ASSISTANCE; TO REQUIRE ANY LOCAL 4
ENTITY DESIRING A GRANT, LOAN OR OTHER FINANCIAL ASSISTANCE TO 5
SUBMIT AN APPLICATION; TO PRESCRIBE APPLICATION REQUIREMENTS; TO 6
REQUIRE THE AUTHORITY TO DETERMINE WHETHER THE PROJECT MEETS THE 7
DEFINITION OF AN APPROVED PROJECT AND WHETHER TO PROVIDE THE 8
ASSISTANCE REQUESTED IN THE FORM OF A GRANT, LOAN OR OTHER 9
FINANCIAL ASSISTANCE; TO GRANT THE MISSISSIPPI DEVELOPMENT 10
AUTHORITY SOLE DISCRETION IN PROVIDING GRANTS, LOANS OR PROVIDING 11
OTHER FINANCIAL ASSISTANCE; TO PROHIBIT AN ELECTRIC UTILITY 12
PROVIDER FROM BEING CONSIDERED ELIGIBLE TO BE A DIRECT RECIPIENT 13
OF FUNDING; TO REQUIRE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO 14
PROMULGATE RULES AND REGULATIONS; TO PROVIDE THAT THIS ACT SHALL 15
BE REPEALED ON JULY 1, 2029; AND FOR RELATED PURPOSES. 16
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 17
SECTION 1. (1) As used in this section, the following terms 18
have the meanings ascribed herein unless the context clearly 19
requires otherwise: 20
(a) "Approved project" means any project that: 21
(i) Locates or expands in this state with 22
significant regional impact as determined by the authority; or 23
(ii) Will improve the marketability of potential 24
economic development sites or facilitates a potential economic 25
H. B. No. 1393 *HR26/R2078SG* ~ OFFICIAL ~
26/HR26/R2078SG
PAGE 2 (BS\KW)
development project by obtaining equipment and facilities related 26
to the approved project as determined by the authority. 27
(b) "Authority" means the Mississippi Development 28
Authority. 29
(c) "Facilities related to the approved project" means 30
and includes any of the following, as they may pertain to the 31
approved project: 32
(i) Priority production placement agreements with 33
key manufacturers of long lead-time electrical equipment, 34
including, but not limited to, transformers, substations, 35
switchgear, and specialized circuit breakers for an approved 36
project; 37
(ii) Notwithstanding subsection (5) of this 38
section, site-specific infrastructure development, including, but 39
not limited to, the extension of transmission lines and pipelines; 40
enhancements or expansions to substation capacity; the acquisition 41
of rights-of-way for key transmission and pipeline infrastructure 42
located near key industrial or commercial sites, as identified by 43
the authority for development; and transformers, breakers, and 44
other equipment and facilities necessary for processing, 45
converting, and delivering such electricity into voltages 46
necessary or useful for an approved project; and 47
(iii) Any other energy related infrastructure and 48
equipment for an approved project as determined by the authority. 49
H. B. No. 1393 *HR26/R2078SG* ~ OFFICIAL ~
26/HR26/R2078SG
PAGE 3 (BS\KW)
(d) "Project" means any industrial, commercial, 50
research and development, warehousing, distribution, 51
transportation, processing, mining, refining, data center, United 52
States government or tourism enterprise together with all 53
equipment and real property required for construction, maintenance 54
and operation of the enterprise that is approved by the authority. 55
(e) "Local entity" means any county, municipality or 56
public or private nonprofit local economic development entity, 57
including, but not limited to, local authorities, commissions or 58
other entities created by local and private legislation or 59
pursuant to Section 19-5-99, Mississippi Code of 1972. 60
(2) (a) There is created a special fund in the State 61
Treasury to be known as the "Mississippi Energy Infrastructure 62
Fund" which shall consist of money from any source designated for 63
deposit into the fund. Unexpended amounts remaining in the fund 64
at the end of a fiscal year shall not lapse into the State General 65
Fund, and any interest earned on amounts in the fund shall be 66
deposited to the credit of the fund. Money in the fund shall be 67
disbursed by the authority for the purposes authorized in 68
subsection (3) of this section. 69
(b) Monies in the fund that are derived from the 70
proceeds of bonds or provided by the Legislature may be used to 71
reimburse reasonable actual and necessary costs incurred by the 72
authority for the administration of the various grant, loan and 73
financial incentive programs administered by the authority. An 74
H. B. No. 1393 *HR26/R2078SG* ~ OFFICIAL ~
26/HR26/R2078SG
PAGE 4 (BS\KW)
accounting of actual costs incurred for which reimbursement is 75
sought shall be maintained by the authority. Reimbursement of 76
reasonable actual and necessary costs shall not exceed three 77
percent (3%) of the proceeds of bonds issued or the monies 78
provided by the Legislature. Reimbursements under this subsection 79
shall satisfy any applicable federal tax law requirements. 80
(3) The authority shall establish a program to make grants, 81
loans or provide any other financial assistance as determined by 82
the authority from the Mississippi Energy Infrastructure Fund to 83
local entities to construct, equip an approved project or 84
otherwise provide facilities related to the approved project. 85
Local entities are authorized to accept grants and enter into 86
loans or accept other financial assistance as determined by the 87
authority authorized under the program, and to sell, lease, donate 88
or otherwise dispose of an approved project, any equipment or 89
property related to the approved project, and any facilities 90
related to the approved project in whole or in part as determined 91
by the authority. 92
(4) (a) Any local entity desiring a grant, loan or other 93
financial assistance under this section shall submit an 94
application to the authority which shall include, at a minimum: 95
(i) Evidence that the project meets the definition 96
of an approved project; 97
(ii) A description, including the cost, of the 98
requested assistance; 99
H. B. No. 1393 *HR26/R2078SG* ~ OFFICIAL ~
26/HR26/R2078SG
PAGE 5 (BS\KW)
(iii) A description of the purpose for which the 100
assistance is requested; and 101
(iv) Any other information required by the 102
authority. 103
(b) The authority shall require that binding 104
commitments be entered into requiring that: 105
(i) The minimum requirements of this section and 106
such other requirements as the authority considers proper shall be 107
met; and 108
(ii) If such requirements are not met, the 109
authority may require all or a portion of the funds provided by 110
this section to be repaid. 111
(c) Upon receipt of the application from a local entity 112
for a grant, loan or other financial assistance under this 113
section, the authority shall determine whether the project meets 114
the definition of an approved project and determine whether to 115
provide the assistance requested in the form of a grant, loan or 116
other financial assistance. 117
(d) The authority shall have sole discretion in 118
providing grants, loans or providing other financial assistance 119
under this section. The terms of a grant, loan or other financial 120
assistance provided under this section and the manner of repayment 121
of any grant, loan or other financial assistance shall be within 122
the discretion of the authority. Repayments of grants, loans or 123
other financial assistance made under this section shall be 124
H. B. No. 1393 *HR26/R2078SG* ~ OFFICIAL ~
26/HR26/R2078SG
PAGE 6 (BS\KW)
ST: Mississippi Energy Infrastructure Fund;
create.
deposited to the credit of the Mississippi Energy Infrastructure 125
Fund. 126
(5) An electric utility provider shall not be eligible to be 127
a direct recipient of funding from the Mississippi Energy 128
Infrastructure Fund. 129
(6) The authority shall promulgate rules and regulations, in 130
accordance with the Mississippi Administrative Procedures Law, for 131
the implementation of this section. 132
(7) This section shall be repealed on July 1, 2029. 133
SECTION 2. This act shall take effect and be in force from 134
and after July 1, 2026. 135