MS SB2470

Requires the Office of Purchasing, Travel and Fleet Management to receive all rebates from state contracts it establishes, rather than allowing individual agencies to retain them.

Creates a special fund in the State Treasury called the "Office of Purchasing, Travel and Fleet Management Revolving Fund" to deposit and hold all rebates received.

Specifies that unexpended amounts in the revolving fund do not lapse at the end of each fiscal year and investment earnings on fund balances are credited back to the fund.

Amends existing law to clarify that rebates from state contracts originated by the Office of Purchasing, Travel and Fleet Management are excluded from the general rule allowing agencies to retain rebates for their own benefit.

Effective date is July 1, 2013.