MS HB1759

Authorizes the Department of Finance and Administration to sell or lease the "Old School for the Blind" property (22.822 acres) in Jackson, Mississippi for not less than fair market value determined by average of two qualified appraisals.

Requires all proceeds from the sale or lease be deposited into the School for the Blind Trust Fund in the State Treasury for disbursement to the State Board of Education for benefit of the Mississippi School for the Blind and School for the Deaf.

Authorizes negotiation of developer agreement requiring construction of a new Superintendent residence and building maintenance facility capped at $1,200,000, with costs credited against purchase price or rental payments.

Retains state right to repurchase the property or terminate the lease if fewer than 50,000 square feet of improvements are completed within 10 years, and preserves all mineral rights to the state.

Authorizes Mississippi Transportation Commission to sell related state property in Jackson in connection with the development, and repeals prior 2007 law authorizing Mississippi Development Authority to lease the property.