MS HB1292

Authorizes the Department of Finance and Administration to sell state-owned real property in Hattiesburg, Forrest County, Mississippi, currently under University of Southern Mississippi control, consisting of Lots 22, 23, and 24 in Block 27 of Pine Crest Second Survey and part of a vacated alley.

Requires the property be sold for no less than fair market value determined by averaging at least two appraisals from qualified, certified appraisers, with one selected by the Department of Finance and Administration.

State of Mississippi retains all mineral rights to the property being sold.

All proceeds from the sale shall be deposited in a special fund in the State Treasury and expended solely for the benefit of University of Southern Mississippi.

Act takes effect July 1, 2012.