Plain English Breakdown
The bill text does not specify when contributions start or provide details about how funds are to be allocated within the economic development purpose.
Allowing Money for Economic Development
This bill allows the city of Natchez and Adams County to give money each year to a nonprofit group called Natchez, Inc., which helps with economic development.
What This Bill Does
- Allows the City of Natchez to contribute at least $100,000 every fiscal year to Natchez, Inc.
- Lets the Adams County Board of Supervisors contribute at least $165,000 each fiscal year to Natchez, Inc.
- Requires both contributions to be made for economic development purposes
- Repeals this law after July 1, 2030
Who It Names or Affects
- The City of Natchez and its governing authorities
- Adams County Board of Supervisors
- Natchez, Inc., a nonprofit corporation in Mississippi
Terms To Know
- Economic Development
- Activities that help grow the local economy by creating jobs and encouraging businesses to start or expand.
- Nonprofit Corporation
- A type of organization that does not aim to make a profit for its members but instead works to achieve specific goals, such as community development.
Limits and Unknowns
- The bill only allows contributions starting from the fiscal year it is passed.
- It specifies exact amounts and dates but does not say how the money will be used beyond economic development purposes.