(1) A special fund is created within the State Treasury to be used as provided in this section. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited into such fund.
(2) Monies deposited into the fund shall be disbursed, in the discretion of the Mississippi Development Authority (“MDA”) as follows:(i) Two Million Five Hundred Thousand Dollars ($2,500,000.00) shall be used for the purpose of providing funds to assist Pinchers Seafood, with support and expansion of its operations in Mississippi, including, but not limited to, land acquisition, construction of facilities and dredging. In order to receive such assistance, Pinchers Seafood must submit an application to the MDA. The MDA shall review and approve the projects for which the assistance may be used. If the MDA approves an application for assistance, it also must use other available funds from its programs, for which Pinchers Seafood is eligible to receive assistance, to assist with the completion of the approved projects.(ii) Two Million Five Hundred Thousand Dollars ($2,500,000.00) shall be used for the purpose of providing funds to assist Halter Marine with support and expansion of its operations including shoreline power in Mississippi. In order to receive such assistance, Halter Marine must submit an application to the MDA. The MDA shall review and approve the projects for which the assistance may be used. If the MDA approves an application for assistance, it also must use other available funds from its programs, for which Halter Marine is eligible to receive assistance, to assist with the completion of the approved projects.(iii) Two Million Five Hundred Thousand Dollars ($2,500,000.00) shall be used for the purpose of providing funds to assist Highland Carbon Solutions, LLC, with the establishment of its operations in Mississippi. In order to receive such assistance, Highland Carbon Solutions, LLC, must submit an application to the MDA. The MDA shall review and approve the projects for which the assistance may be used. If the MDA approves an application for assistance, it also must use other available funds from its programs, for which Highland Carbon Solutions, LLC, is eligible to receive assistance, to assist with the completion of the approved projects.
(i) Two Million Five Hundred Thousand Dollars ($2,500,000.00) shall be used for the purpose of providing funds to assist Pinchers Seafood, with support and expansion of its operations in Mississippi, including, but not limited to, land acquisition, construction of facilities and dredging. In order to receive such assistance, Pinchers Seafood must submit an application to the MDA. The MDA shall review and approve the projects for which the assistance may be used. If the MDA approves an application for assistance, it also must use other available funds from its programs, for which Pinchers Seafood is eligible to receive assistance, to assist with the completion of the approved projects.
(ii) Two Million Five Hundred Thousand Dollars ($2,500,000.00) shall be used for the purpose of providing funds to assist Halter Marine with support and expansion of its operations including shoreline power in Mississippi. In order to receive such assistance, Halter Marine must submit an application to the MDA. The MDA shall review and approve the projects for which the assistance may be used. If the MDA approves an application for assistance, it also must use other available funds from its programs, for which Halter Marine is eligible to receive assistance, to assist with the completion of the approved projects.
(iii) Two Million Five Hundred Thousand Dollars ($2,500,000.00) shall be used for the purpose of providing funds to assist Highland Carbon Solutions, LLC, with the establishment of its operations in Mississippi. In order to receive such assistance, Highland Carbon Solutions, LLC, must submit an application to the MDA. The MDA shall review and approve the projects for which the assistance may be used. If the MDA approves an application for assistance, it also must use other available funds from its programs, for which Highland Carbon Solutions, LLC, is eligible to receive assistance, to assist with the completion of the approved projects.