SB 2762 Summary

• Authorizes school districts to issue State Aid Educational Technology Improvement Bonds from July 1, 2012 through June 30, 2018, securing repayment with Mississippi Adequate Education Program funds at up to $195 per pupil for technology infrastructure, electronic textbooks, and hardware.

• Allows school districts to issue short-term notes for educational technology purchases and increases the ad valorem tax limitation on short-term notes from three (3) mills to four (4) mills.

• Expands the State Textbook Fund to include appropriations for educational technology infrastructure upgrades, electronic textbooks, hardware, and software purchases beginning with the 2012-13 school year.

• Directs increased sales tax collections from internet sales to the Education Enhancement Fund, earmarked specifically for educational technology infrastructure upgrades, electronic textbooks, and technology hardware.

• Amends tax collection requirements to include mail order sales made by telephone, computer, or other electronic device, expanding the taxable base for internet and remote sales.