MS HB1297

Amends Section 7-7-27 of the Mississippi Code to authorize presidents of state institutions of higher learning or community colleges to make advance payments prior to receipt of goods or services.

Advance payment authority applies to service contracts for limited time periods, lease of office space and equipment, subscriptions, memberships, and maintenance agreements.

Permits prepayment for future purchases of commodities and fuel at discounted prices, computer software, and subgrantee disbursements under federal grant programs.

Requires the institution president or designee to consider the best interest of the institution before authorizing advance payments.

Takes effect upon passage.