MS HB1366

Authorizes issuance of state general obligation bonds up to $21,450,000 to fund implementation of MAGIC (Mississippi's Accountability System for Government Information and Collaboration), the state's enterprise resource planning system.

Creates a special fund designated "2013 Department of Finance and Administration MAGIC Fund" within the State Treasury to receive bond proceeds and disburse funds for MAGIC implementation costs under direction of the Department of Finance and Administration.

Grants the State Bond Commission authority to issue, sell, and manage the bonds through public sale or negotiated sale, with bonds maturing no more than 25 years from issuance and bearing interest rates within statutory limits.

Pledges the full faith and credit of the State of Mississippi to pay bond principal and interest, with any shortfall covered from unappropriated state treasury funds.

Restricts bond issuance to before July 1, 2017, and exempts issued bonds and income from state taxation.