MS HB502

Creates the Mississippi Achievement School District as a statewide district to oversee public schools rated "F" for two consecutive school years under the state accreditation system.

Establishes a nine-member board appointed by the Governor (3 members), Lieutenant Governor (3 members), and State Superintendent of Public Education (1 member), with initial staggered terms and subsequent four-year terms.

Schools receiving "F" designations for two consecutive years must be transferred immediately to the Achievement School District unless a gradual transfer before the next school year is deemed in the school's best interest.

Requires local school districts to transfer per-pupil funding (ad valorem tax receipts) to the Achievement School District and mandates the State Department of Education provide state adequate education program payments based on average daily attendance.

Authorizes the Achievement School District to use absorbed schools' buildings and facilities without charge but requires maintenance, repairs, and utility payments; return of schools to local control is at the sole discretion of the Achievement School District.