House Bill 1 bringing much-needed funds

State Rep. John Faulkner reported to the Holly Springs mayor and board of aldermen on the August 23 special session of the Legislature called by Gov. Phil Bryant to discuss new revenue streams for infrastructure needs.

House Bill 1 appropriates funds toward repairing infrastructure problems, he said.

The funds come from use tax, sports betting, hybrid and electric vehicle fees, Gaming Sinking Fund bonds and the Mississippi Groundwater Protection Fund.

HB 1 will bring in about $338 million in use taxes the first year, he said. Thirty-five percent would go to infrastructure – 15 percent to the counties, 15 percent to the cities and 5 percent to the Local System Bridge Program.  

 The total for Holly Springs comes to $121,000 and once the funds reach a maximum the city will get $207,000 a year, he said.

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