MS SB2899

State Fiscal Officer shall transfer $183.7 million from the State General Fund to the Budget Contingency Fund during fiscal year 2012.

During fiscal year 2013, transfer $188.7 million to the Budget Contingency Fund from multiple sources including the State General Fund ($49.6 million), Hurricane Disaster Reserve Fund ($26.6 million), and Working Cash-Stabilization Reserve Fund ($99.6 million).

Delays implementation until July 1, 2013 of increased early payment requirements for withholding, sales, and use taxes by raising the average monthly liability threshold from $20,000 to $50,000.

Authorizes Mississippi Emergency Management Agency to draw up to $500,000 per disaster and $1,000,000 per fiscal year from Working Cash-Stabilization Reserve Fund and/or Budget Contingency Fund for disaster assistance.

Transfers $97.45 million from Health Care Trust Fund to Health Care Expendable Fund in fiscal year 2013 and repeals prior requirement for state repayment to Mississippi Department of Transportation.