Lawmakers consider creation of Energy Infrastructure Fund

• The goal is to help build infrastructure for approved energy projects, which the Mississippi Development Authority says will improve long-term energy readiness at key industrial sites.

Mississippi lawmakers are debating whether to invest millions into energy infrastructure for economic development across the state.

The bill, HR 1393 which was drafted at the request of the Mississippi Development Authority and Governor Tate Reeves’ Office, would establish a fund to provide grants, loans, and other financial assistance to promote and develop energy projects in Mississippi.

The Senate Appropriations Committee, which passed an amended version of the Mississippi Energy Infrastructure Fund last week, questioned the need for the measure.

“We had a version of this [bill] in our Senate Appropriations for consideration. I intentionally did not take it up, because I felt like we put money into the site development fund grant fund,” said Chairman State Senator Briggs Hopson (R), noting the Legislature puts $18 million into the site development grant fund.

The chairman went on to tell the committee that MDA and Governor Reeves would “like to keep this [bill] alive, keep it available.”

MDA executive director Bill Cork told Magnolia Tribune that the fund “would help build infrastructure for approved energy projects, which will improve long-term energy readiness at key industrial sites.”

The bill requires the Mississippi Treasury Office to establish and administer the Energy Development Fund as “there is a need for effectively utilizing the state’s energy infrastructure to encourage and grow economic development opportunities in this state.”

Additionally, the fund would assist in improving the marketability of possible economic development sites by obtaining facilities and equipment approved by MDA.

The original House bill unanimously passed in the House on in early February. The amended version is now on the Senate Calendar and could be taken up sometime this week.