MS SB2094

Amends Section 37-17-6 of Mississippi Code to require state conservators to administer school districts in takeover status until the district achieves a "B" accreditation rating, rather than indefinite administration.

Establishes specific exit criteria for removal of conservatorship, including compliance with "B" accreditation standards, demonstrated academic improvement measured by Quality Distribution Index (QDI), two consecutive years of "no material findings" in external audits, repayment of state loans, and maintenance of positive fund balance for two consecutive years.

Conservators must present a detailed corrective action plan within 45 days of appointment to move the district out of conservatorship status.

Establishes the School District Emergency Assistance Fund with a maximum annual balance of $3,000,000 to provide loans to school districts under state emergency or conservatorship status to address financial resource deficiencies.

Effective date is July 1, 2013.