Mississippi 2024 Regular Session

Mississippi House Bill HB1272

Introduced
2/15/24  
Refer
2/15/24  

Caption

Hometown Heroes Homeloan Guaranty Program; establish.

Impact

The proposed legislation establishes a special fund known as the Hometown Heroes Home Loan Guaranty Fund within the state treasury, which will be administered by the Department of Finance and Administration. This fund will comprise appropriated funds and any additional resources designated by the legislature. The establishment of the fund reflects an effort to support state employees in essential services and aims to reinforce community stability by promoting home ownership among these professionals.

Summary

House Bill 1272, titled the Hometown Heroes Home Loan Guaranty Program, aims to provide loan guarantees to specific public service professionals in Mississippi, including firefighters, law enforcement officers, registered nurses, and teachers. This program is intended to facilitate these individuals in securing conventional financing for purchasing residential properties that will serve as their primary residence. Eligible individuals are required to have been employed in their respective roles for a minimum of four years preceding their application for assistance.

Contention

While the bill builds a framework for supporting vital community roles, it may also spark discussions about the allocation of state resources. Opponents could argue that instead of a targeted loan guaranty program, broader housing support measures should be considered that encompass a wider range of the workforce. As with any specialized funding programs, there could be concerns regarding equity and whether specific groups are being prioritized over others in terms of government financial assistance.

Companion Bills

No companion bills found.

Previously Filed As

MS SB2444

ARPA programs; revise provisions related to certain programs.

MS HB604

New programs funded with ARPA funds; revise certain provisions and bring forward sections of.

MS HB115

Trimester School Year Pilot Program; establish.

MS SB2373

Skilled Nursing Home and Hospital Nurses Retention Loan Repayment Program; establish.

MS HB1270

Helping Heroes Act; create to provide support to first responders and public EMS personnel diagnosed with PTSD.

MS SB2624

Helping Heroes Act; provide certain benefits for law enforcement and first responders diagnosed with PTSD.

MS SB2374

Nurse Teacher Loan Repayment Program; establish.

MS SB2565

Neighborhood Housing Rehabilitation Program (NHRP); direct Mississippi Home Corporation to establish using federal funds.

MS HB170

Domestic abuse court program; establish.

MS HB1179

School attendance officers; transfer responsibility for employment and establishment of duties from MDE to the local school districts.

Similar Bills

MS HB1278

Hometown Heroes Home Loan Guaranty Program; establish.

MS SB2887

State Treasurer; modify certain provisions concerning the deposit and investment of excess state funds.

MS SB2713

Emerging Crops Fund; increase amount that may be loaned to any one borrower to assist in financing minority economic development.

MS SB2760

Emerging Crops Fund; increase amount that may be loaned to any one borrower to assist in financing minority economic development.

MS HB1041

State depositories; revise certain definitions relating to align with federal regulatory standards.

MS HB1627

Nonprofit Agricultural Membership Organizations; exempt from insurance regulation.

MS HB1022

State boards and commissions; Department of Finance and Administration travel regulations shall be applicable to all.

MS HB404

Elected officials; increase surety bond required for certain.