MS HB717

Authorizes the Department of Finance and Administration to sell a state-owned parcel in D'Iberville, Harrison County under University of Southern Mississippi control, with proceeds deposited into a special fund for the university's benefit.

Authorizes the Department of Finance and Administration to sell or lease two parcels of state-owned property in Hattiesburg, Forrest County under University of Southern Mississippi control, with the university authorized to negotiate lease terms subject to Board of Trustees approval.

Requires that any sale of the described properties occur at fair market value as determined by averaging at least two appraisals by certified and licensed appraisers, with one appraiser selected by the Department of Finance and Administration.

Mandates that the state retain all mineral rights to any property sold or leased under the act and that property be used in a manner that does not interfere with University of Southern Mississippi operations.

Allows the Department of Finance and Administration to recover transaction costs from sale or lease proceeds, with net proceeds deposited into a special fund for the university's exclusive benefit.