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Senate committee advances federal‑match land bank bill for municipalities
Summary
A Senate Local and Private committee advanced SB 2578, which would create a federal‑match land‑bank program allowing municipalities to acquire dilapidated properties using federal and state funds; the Mississippi Development Authority would administer the fund and retain 1.25% for administration.
The Senate Local and Private Committee advanced Senate Bill 2578 on a voice vote after the chair introduced the measure and explained its key features.
The chair said the bill, sponsored by Senator Serena Simmons, "creates a federal match land bank" that would allow municipalities to purchase dilapidated properties using federal and state funds. Under the measure, funds would be held and administered by the Mississippi Development Authority, which could retain 1.25% for administrative costs. The chair said the bill would take effect on 07/01/2026 if passed.
Committee members offered no substantive questions on the floor and moved title sufficient to pass; the chair recorded that the ayes had it. The committee action was procedural: the bill was reported out of committee with the recommendation to pass the committee substitute or bill as titled.
