MS HB586

Creates the Revised Mississippi Dairy Industry Stabilization Act to revitalize Mississippi's dairy industry by establishing minimum fluid milk prices based on Southern Dairy Compact states' average production costs, with prices announced by November 1 annually and adjusted quarterly.

Authorizes the Commissioner of Agriculture and Commerce to estimate annual milk production, determine individual producer output, contract with nonprofits to purchase surplus milk, and impose annual pound limits on milk production with price reductions for overproduction.

Authorizes cooperation between the Commissioners of Agriculture and Corrections to establish dairy production and processing at state correctional facilities as part of prison agricultural enterprises.

Creates the Revised Mississippi Dairy Industry Stabilization Fund and authorizes issuance of $10,000,000 in state general obligation bonds to provide loans to dairy producers for restoring Hurricane Katrina-damaged dairies, upgrading equipment, and refinancing debt at zero percent interest.

Amends Section 47-5-355 to make the director of prison agricultural enterprises directly responsible to both the Commissioner of Agriculture and Commerce and Commissioner of Corrections regarding dairy farming operations at state facilities.