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HB522 • 2026

Mississippi Development Authority; authorize to sell certain real property for less than fair market value.

AN ACT TO AMEND SECTION 1, CHAPTER 393, LAWS OF 2019, TO PROVIDE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO SELL CERTAIN REAL PROPERTY LOCATED IN LOWNDES COUNTY AND THE CITY OF COLUMBUS, MISSISSIPPI, FOR LESS THAN FAIR MARKET VALUE; TO PROVIDE THAT ANY PROCEEDS GENERATED FROM THE SALE OF THE LAND SHALL BE DEPOSITED INTO THE MISSISSIPPI EXISTING INDUSTRY PRODUCTIVITY LOAN PROGRAM BOND SINKING FUND; TO PROVIDE MDA MAY CORRECT ANY DISCREPANCIES IN THE LEGAL DESCRIPTION OF THE PROPERTY; AND FOR RELATED PURPOSES.

Did Not Pass

The latest official action shows that this bill did not move forward in that session.

Sponsor
Karriem
Last action
2026-02-03
Official status
Dead
Effective date
Passage

Plain English Breakdown

Checked against official source text during the last sync.

Mississippi Development Authority Property Sale Act

This bill allows the Mississippi Development Authority to sell certain real property located in Lowndes County and Columbus for less than fair market value, with proceeds going into a specific fund.

What This Bill Does

  • Allows the Mississippi Development Authority (MDA) to sell specific pieces of land in Lowndes County and the city of Columbus for less than their fair market value.
  • Requires that any money made from selling this property be put into the Mississippi Existing Industry Productivity Loan Program Bond Sinking Fund.
  • Gives MDA permission to fix mistakes or unclear parts in the legal description of the land being sold.

Who It Names or Affects

  • The Mississippi Development Authority
  • People who might buy the property from the MDA

Terms To Know

Mississippi Existing Industry Productivity Loan Program Bond Sinking Fund
A fund used to support existing industries in Mississippi by providing loans.

Limits and Unknowns

  • The bill did not pass and was stopped in committee.
  • It only applies to specific pieces of land described in the bill.

Bill History

  1. 2026-02-03 Mississippi Legislative Bill Status System

    02/03 (H) Died In Committee

  2. 2026-01-12 Mississippi Legislative Bill Status System

    01/12 (H) Referred To Public Property;Appropriations A

Official Summary Text

Mississippi Development Authority; authorize to sell certain real property for less than fair market value.

Current Bill Text

Read the full stored bill text 
H. B. No. 522 *HR43/R1366* ~ OFFICIAL ~ G1/2
26/HR43/R1366
PAGE 1 (DJ\KP)

To: Public Property;
Appropriations A
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026

By: Representative Karriem

HOUSE BILL NO. 522

AN ACT TO AMEND SECTION 1, CHAPTER 393, LAWS OF 2019, TO 1
PROVIDE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO SELL CERTAIN REAL 2
PROPERTY LOCATED IN LOWNDES COUNTY AND THE CITY OF COLUMBUS, 3
MISSISSIPPI, FOR LESS THAN FAIR MARKET VALUE; TO PROVIDE THAT ANY 4
PROCEEDS GENERATED FROM THE SALE OF THE LAND SHALL BE DEPOSITED 5
INTO THE MISSISSIPPI EXISTING INDUSTRY PRODUCTIVITY LOAN PROGRAM 6
BOND SINKING FUND; TO PROVIDE MDA MAY CORRECT ANY DISCREPANCIES IN 7
THE LEGAL DESCRIPTION OF THE PROPERTY; AND FOR RELATED PURPOSES. 8
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 9
SECTION 1. Section 1, Chapter 393, Laws of 2019, is amended 10
as follows: 11
Section 1. (1) The Mississippi Development Authority is 12
authorized to sell, lease or otherwise dispose of, in whole or in 13
part, in a manner as determined in the sole discretion of the 14
authority, the following described real property and any 15
improvements thereon: 16
TRACT I DESCRIPTION #1: 17
Commencing at a set nail in pavement at the SW 1/4 of 18
the NW 1/4 of Section 15, T-18-S, R-18-W, Lowndes 19
County, Mississippi; thence N88°35'46"E, a distance of 20
499.86 feet to the point of beginning and at state plane 21
H. B. No. 522 *HR43/R1366* ~ OFFICIAL ~
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PAGE 2 (DJ\KP)

coordinate N1456560.6170 E1113430.5090, based on NAD-83, 22
Mississippi East 2301 zone; from said point of beginning 23
thence N00°45'46"W, a distance of 751.70 feet; thence 24
N12°17'40"W, a distance of 169.79 feet; thence 25
N05°28'05"W, a distance of 263.88 feet; thence 26
N06°23'26"W, a distance of 152.45 feet; thence 27
N87°58'02"E, a distance of 1,534.95 feet; thence 28
S39°27'31"W, a distance of 1,076.12 feet; thence 29
S50°32'29"E, a distance of 41.01 feet; thence 30
S39°27'31"W, a distance of 669.20 feet; thence 31
S88°02'45"W, a distance 368.41 feet to the point of 32
beginning located in the NE 1/4 of the NW 1/4 and the NW 33
1/4 of the NE 1/4 of Section 15, T-18-S, R-18-W, Lowndes 34
County, Mississippi and containing 28.4373 acres, more 35
or less. 36
TRACT II DESCRIPTION #1: 37
Commencing at the SE corner of Block 11, lot 6 of the 38
Interstate City Addition, City of Columbus; thence 39
N27°15'13"E, a distance of 412.90 feet; thence 40
N50°32'29"W, a distance of 159.57 feet; thence 41
N50°32'29"W, a distance of 30.01 feet to the point of 42
beginning and at state plane coordinate N1457279.0334 43
E1114792.1955, based on NAD-83, Mississippi East 2301 44
zone; from said point of beginning thence S37°48'10"W, a 45
distance of 390.43 feet; thence N50°32'29"W, a distance 46
H. B. No. 522 *HR43/R1366* ~ OFFICIAL ~
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of 246.76 feet; thence N39°27'31"E, a distance of 390.27 47
feet; thence S50°32'29"E, a distance of 235.48 feet to 48
the point of beginning, located in the Block 12, lot 3, 49
4, 5 & 6 of the Interstate City Addition, City of 50
Columbus and containing 2.1603 acres, more or less. 51
TRACT II DESCRIPTION #2: 52
Beginning and Commencing at the SE corner of Block 11, 53
lot 6 of the Interstate City Addition, City of Columbus 54
and at state plane coordinate N1456791.4860 55
E1114749.4870, based on NAD-83, Mississippi East 2301 56
zone; thence N50°32'29"W, a distance of 235.19 feet; 57
thence N37°48'10"E, a distance of 403.74 feet; thence 58
S50°32'29"E, a distance of 159.57 feet; thence 59
S27°15'13"W, a distance of 412.90 feet to the point of 60
beginning, located in the Block 11, lot 3, 4, 5 & 6 of 61
the Interstate City Addition, City of Columbus and 62
containing 1.8287 acres, more or less. 63
(2) The Mississippi Development Authority may pay the cost 64
of title search, perfection of title, title insurance, legal fees 65
and recording fees and other costs as may be required to sell, 66
lease or otherwise dispose of the property. 67
(3) In the event that any or all of the real property and 68
improvements described in subsection (1) of this section is sold, 69
the real property * * * may be sold for less than fair market 70
H. B. No. 522 *HR43/R1366* ~ OFFICIAL ~
26/HR43/R1366
PAGE 4 (DJ\KP)
ST: Mississippi Development Authority;
authorize to sell certain real property for less
than fair market value.
value at the sole discretion of the Mississippi Development 71
Authority. 72
(4) Any proceeds from the sale of the land, and any 73
improvements thereon, listed in subsection (1) of this section, 74
shall be deposited into the * * * Mississippi Existing Industry 75
Productivity Loan Program Bond Sinking Fund, established under 76
Section 57-93-1, and administered by the Mississippi Development 77
Authority. 78
(5) The * * * Mississippi Development Authority may correct 79
any discrepancies in the legal description of the property 80
provided in this section. 81
SECTION 2. This act shall take effect and be in force from 82
and after its passage. 83