HB 1362 Summary

• Amends Section 41-43-37 of the Mississippi Code to clarify that perpetual care trust fund payments apply only to cemetery lot sales made on or after July 1, 2009.

• Requires cemetery owners to deposit percentages of sale prices into irrevocable perpetual care trust funds: 15% or 40 cents per square foot for earth burials (whichever is greater), 5% or $50 per crypt for mausoleums (whichever is greater), and 5% or $10 per niche for columbariums (whichever is greater).

• Requires new cemeteries organized after July 1, 2009, to deposit $25,000 in cash into the perpetual care trust fund before selling any burial lots or making the first burial.

• Establishes that once a cemetery deposits $50,000 total into the perpetual care fund, the trustee shall return the original $25,000 deposit to the cemetery.

• Directs the Secretary of State to develop a statewide registry of perpetual care cemeteries and authorize county boards of supervisors to submit lists of such cemeteries by October 31, 2009.