Mississippi 2025 Regular Session

Mississippi House Bill HB1278

Introduced
1/20/25  
Refer
1/20/25  

Caption

Hometown Heroes Home Loan Guaranty Program; establish.

Impact

The enactment of HB1278 is expected to positively impact state laws regarding housing assistance by explicitly recognizing the contributions of public service professionals. This program could enable a more accessible pathway for these individuals to secure loans for primary residences, promoting home ownership among them. The creation of the Hometown Heroes Home Loan Guaranty Fund ensures that financial support is structured and managed, thus enhancing the overall capability of state financial administration in fostering community stability and growth.

Summary

House Bill 1278 establishes the Hometown Heroes Home Loan Guaranty Program, aimed at assisting certain public service professionals, including firefighters, law enforcement officers, nurses, and teachers. The program provides loan guarantees to eligible individuals to facilitate the purchase of residential properties designated as their primary homes. By creating a special fund in the State Treasury, the bill seeks to solidify support for these essential workers who often face financial hurdles when securing home financing. The bill defines eligible individuals as those employed in specified positions for at least four years prior to application submission.

Contention

While the bill is primarily framed as a support mechanism for essential workers, there may be points of contention regarding how the program is funded and its sustainability over time. Critics might raise concerns regarding the allocation of state funds and whether it adequately addresses broader housing affordability issues in Mississippi. Additionally, there may be discussions about eligibility criteria and potential resource limitations that could restrict access to the program for some deserving individuals.

Companion Bills

No companion bills found.

Previously Filed As

MS HB1272

Hometown Heroes Homeloan Guaranty Program; establish.

MS SB2373

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

MS SB2374

Nurse Teacher Loan Repayment Program; establish.

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 HB1639

Delta Regional Health Authority; create task force on the establishment of.

MS HB115

Trimester School Year Pilot Program; establish.

MS HB242

Trimester School Year Pilot Program; establish.

MS HB826

Vocational education programs; require to be established in every school district or shared operation between multiple districts.

MS SB2848

ARPA programs; revise related programs, provide procedure of unobligated funds, and transfer certain funds.

Similar Bills

MS HB1272

Hometown Heroes Homeloan 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 HB813

Elected officials; increase surety bond required for certain.