MS HB522

Amends Section 37-155-9 of Mississippi Code to revise investment policies for the Mississippi Prepaid Affordable College Tuition Program's trust fund administered by the Board of Directors of the College Savings Plans of Mississippi.

Increases maximum stock investments from 50% to 70% of total fund market value and increases individual corporation investment limits from 3% to 5% of fund market value.

Authorizes new investment types including taxable municipal bonds, mortgage-backed securities, convertible bonds, and allows foreign investments up to 30% (increased from 20%) of total fund market value.

Expands real estate fund investments from 5% to 10% of total fund market value and adds a new category permitting alternative investments (separate accounts, limited partnerships, commingled funds) up to 10% of fund market value.

Effective July 1, 2013; allows more flexible and diversified investment strategies while maintaining fiduciary oversight and annual audits by the State Auditor.