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H. B. No. 901 *HR26/R751* ~ OFFICIAL ~ G1/2
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To: Ways and Means
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026
By: Representative Hall
HOUSE BILL NO. 901
AN ACT TO PROVIDE THAT THE DEPARTMENT OF FINANCE AND 1
ADMINISTRATION SHALL DEVELOP THE HOMETOWN HEROES HOME LOAN 2
GUARANTY PROGRAM TO PROVIDE LOAN GUARANTIES ON BEHALF OF CERTAIN 3
FIREFIGHTERS, LAW ENFORCEMENT OFFICERS, NURSES AND TEACHERS FOR 4
THE PURPOSE OF ASSISTING SUCH INDIVIDUALS IN OBTAINING 5
CONVENTIONAL FINANCING FOR THE PURCHASE OF RESIDENTIAL PROPERTY 6
THAT IS TO BE THE PRIMARY HOME AND RESIDENCE OF SUCH AN INDIVIDUAL 7
AND FOR WHICH THE INDIVIDUAL CERTIFIES TO THE DEPARTMENT THAT HE 8
OR SHE INTENDS TO FILE AN APPLICATION FOR HOMESTEAD EXEMPTION 9
UNDER THE STATE HOMESTEAD EXEMPTION LAW; TO CREATE THE HOMETOWN 10
HEROES HOME LOAN GUARANTY FUND AS A SPECIAL FUND IN THE STATE 11
TREASURY, WHICH SHALL BE ADMINISTERED BY THE DEPARTMENT FOR THE 12
PURPOSE OF PROVIDING LOAN GUARANTIES UNDER THIS ACT; AND FOR 13
RELATED PURPOSES. 14
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 15
SECTION 1. (1) As used in this section, the following words 16
and phrases shall have the meanings as defined in this subsection 17
unless the context clearly requires otherwise: 18
(a) "Department" means the Department of Finance and 19
Administration. 20
(b) "Eligible individual" means any individual who is 21
employed as a firefighter, law enforcement officer, registered 22
nurse and/or teacher, and who has been continuously employed in 23
such capacity and/or any combination of such capacities for not 24
H. B. No. 901 *HR26/R751* ~ OFFICIAL ~
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less than four (4) years immediately preceding the date the 25
individual submits an application for a loan guaranty under this 26
section. 27
(c) "Firefighter" means any firefighter who is employed 28
by the State of Mississippi, or any political subdivision thereof, 29
on a full-time duty status. 30
(d) "Law enforcement officer" means any officer who has 31
been certified by the Mississippi Board on Law Enforcement Officer 32
Standards and Training and is employed by the State of 33
Mississippi, or any political subdivision thereof, on a full-time 34
duty status. 35
(e) "Registered nurse" means and has the same 36
definition as such term has in Section 73-15-5, Mississippi Code 37
of 1972. 38
(f) "Teacher" means an individual who is employed full 39
time as a school teacher and not as an administrator. 40
(2) The department shall develop a program to be known as 41
the Hometown Heroes Home Loan Guaranty Program to provide loan 42
guaranties on behalf of eligible individuals for the purpose of 43
assisting such individuals with obtaining conventional financing 44
for the purchase of residential property that is to be the home 45
and primary residence of the eligible individual and for which the 46
individual certifies to the department that he or she intends to 47
file an application for homestead exemption under Section 48
27-33-31. An eligible individual desiring assistance under this 49
H. B. No. 901 *HR26/R751* ~ OFFICIAL ~
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ST: Hometown Heroes Home Loan Guaranty Program;
establish.
section must submit an application to the department. The 50
application must contain verification of the eligible individual's 51
employment and any other information requested by the department. 52
(3) There is created in the State Treasury a special fund, 53
to be designated as the Hometown Heroes Home Loan Guaranty Fund, 54
which shall consist of funds appropriated or otherwise made 55
available by the Legislature and funds from any other source 56
designated for deposit into the fund. The fund shall be 57
maintained by the State Treasurer as a separate and special fund, 58
separate and apart from the General Fund of the state. Unexpended 59
amounts remaining in the fund at the end of a fiscal year shall 60
not lapse into the State General Fund, and any interest earned or 61
investment earnings on amounts in the fund shall be deposited into 62
such fund. Monies in the fund shall be disbursed by the 63
department, upon appropriation by the Legislature, in the 64
discretion of the department, to provide funds for the purposes 65
described in this section. 66
(4) The department shall have all powers necessary to 67
implement and administer the program established under this 68
section, and the department shall promulgate rules and 69
regulations, in accordance with the Mississippi Administrative 70
Procedures Law, necessary for the implementation of this section. 71
SECTION 2. This act shall take effect and be in force from 72
and after July 1, 2026. 73