The Mississippi Legislature has approved legislation to establish the Mississippi Energy Infrastructure Fund, which aims to finance loans, grants, and other incentives for energy projects across the state. The bill, passed by both chambers Tuesday, now heads to the governor for consideration.
Bill Cork, executive director of the Mississippi Development Authority, said the fund will help build infrastructure for approved energy projects and improve long-term energy readiness at key industrial sites. The legislation states that the fund will be financed from any source designated for deposit, including proceeds from bonds or appropriations from the Legislature.
According to the bill, funds derived from bonds or legislative appropriations can be used to reimburse the authority for administrative costs related to grant, loan, and incentive programs, with reimbursements capped at 3% of bond proceeds or appropriations. The fund will be managed by the Mississippi Development Authority and is intended to support projects located or expanding within the state.
Senate Energy Chairman Joel Carter said the measure was requested by the governor and the MDA. The legislation includes a three-year sunset clause, meaning lawmakers will review its effectiveness during the 2029 session.
Despite support from the MDA, the bill faced opposition in the Senate Appropriations Committee, which questioned the need for the fund given existing programs, such as an $18 million grant fund for site development. The legislation also stipulates that electric utilities are ineligible to receive direct funding from the program.
The bill’s future depends on the governor’s approval, after which the fund is expected to serve as a key tool for attracting investment and developing energy infrastructure in Mississippi, according to MDA officials.
Jon Ross Myers is the executive editor and publisher of the Mississippi News Network, Mississippi's largest digital only media company. He can be reached at editor@tippahnews.com
