AN ACT TO CREATE THE HOUSING LOAN ASSISTANCE PILOT PROGRAM TO BE ADMINISTERED BY THE MISSISSIPPI DEVELOPMENT AUTHORITY FOR THE PURPOSE OF PROVIDING LOANS TO CERTAIN PERSONS TO REPAIR AN EXISTING HOME OR TO CONSTRUCT A NEW HOME; TO AUTHORIZE THE ISSUANCE OF $3,000,000.00 IN STATE GENERAL OBLIGATION BONDS TO PROVIDE FUNDS FOR THE HOUSING LOAN ASSISTANCE PILOT PROGRAM; TO CREATE THE HOUSING LOAN ASSISTANCE BOND SINKING FUND FOR THE PURPOSE OF PROVIDING THAT THE PRINCIPAL AND INTEREST ON THE BONDS AUTHORIZED UNDER THIS ACT WILL BE PAID PRIMARILY FROM CERTAIN FEES AUTHORIZED BY THIS ACT; TO AMEND SECTION 25-7-9, MISSISSIPPI CODE OF 1972, TO CREATE AN ADDITIONAL FEE FOR RECORDING DEEDS AND DEEDS OF TRUSTS WITH THE OFFICE OF THE CHANCERY CLERK; TO REQUIRE THE CHANCERY CLERK TO REMIT SUCH FEES TO THE MISSISSIPPI DEVELOPMENT AUTHORITY TO BE DEPOSITED INTO THE HOUSING LOAN ASSISTANCE BOND SINKING FUND; AND FOR RELATED PURPOSES.

Statutes affected:
As Introduced: 25-7-9