NATCHEZ — State lawmakers will again consider if they will approve the public funding of Natchez’s public-private economic development partnership.

Natchez Inc.’s legislative approval is set to expire this year. Sen. Bob Dearing has pre-filed a bill with the state Senate that would extend the organization’s life — at least in its current structure — through 2021.

Natchez Inc. Chair Sue Stedman said a similar bill would likewise be filed in the state House.

The new measure will not represent any change in the funding structure of Natchez Inc., which includes contributions from three entities — the City of Natchez, Adams County and Natchez NOW, a private-sector group composed of local business leaders.

The bill authorizes the city and county to fund Natchez Inc., with a cap of $100,000 on the city’s annual contribution and a $165,000 cap for the county.

Natchez NOW contributes approximately $140,000 a year including special requests, Natchez Inc. Executive Director Chandler Russ said.

Natchez Inc. was first formed in 2010. At the time, the organizers had asked for a five-year approval, but were given three years by the Legislature in the first round.

The new request is also for five years.

“We ask for five and would love to be approved for five years because it keeps us from having to go back,” Stedman said.

Adams County Board of Supervisors President Mike Lazarus said he thinks the five-year extension is needed because economic development commitments take a long time.

“There are a lot of prospects they are still working on, and we are confident in the direction we are headed,” Lazarus said.

Natchez Mayor Pro Tem Joyce Arceneaux-Mathis said the city board has had some questions in the past about what Natchez Inc. was doing to help with the community’s retail sector’s development, but those concerns are being addressed.

“I think we are already supporting Natchez Inc., and we will be even more supportive of it,” she said.

If the Legislature does not approve the bill, it does not necessarily spell the end of Natchez Inc.

“We would have to go back to the city, the county and Natchez NOW and say, ‘How would you like us to proceed?’” Stedman said. “We feel like we have everybody’s blessing, so we look forward to moving forward with the Legislature’s approval.”

Russ said based on the past approval given by the Legislature, the process shouldn’t be controversial or contentious in any way.

Natchez Inc. currently has a portfolio of 12 clients that represent industrial prospects in the forest products, metals and energy-related industry, Russ said. If all of those came to fruition, they would represent $2.5 billion in investment.