MS HB1227

Authorizes local school boards to disburse funds to nonprofit foundations that exist solely to enhance public education and improve instruction quality in their school district.

Applies only when a foundation has been determined by audit to be a blended component unit under governmental accounting standards and is being dissolved, with its funds transferred to school district public funds.

Requires successor foundations to adopt the same educational mission as the original foundation and maintain legal independence from the school district with no school board oversight or participation in foundation governance.

Specifies that disbursed funds must be used to enhance the public educational experience and quality of instruction, and the exact principal amount plus earned interest must be determined through independent analysis.

Declares fund disbursements to foundations constitute expenditures for a public purpose given the foundation's assistance in fulfilling the district's obligation to provide quality education.