MS HB336

Extends the repeal date for the Mississippi Arts Commission's authority to use bond proceeds for reimbursement of project-related costs from July 1, 2011 to July 1, 2014.

Allows the Arts Commission to reimburse reasonable actual and necessary costs incurred in providing assistance directly related to arts projects funded by the Building Fund for the Arts, capped at 3% of bond proceeds for each project.

Maintains existing requirements that grant recipients provide 40% matching funds from local, federal, or private sources to be eligible for grants.

Preserves the Building Fund for the Arts as a separate special fund within the State Treasury, with unexpended amounts not lapsing into the General Fund and investment earnings deposited back into the fund.

Takes effect July 1, 2011.