MS HB769

Amends Section 27-25-506 to redirect oil severance tax revenues (excluding amounts credited to the constitutional trust fund) from the State General Fund to the State Highway Fund over a four-year phase-in period beginning fiscal year 2015.

Fiscal year 2015: 100% of oil severance tax revenues deposited to State General Fund.

Fiscal year 2016: 1/3 to State Highway Fund, 2/3 to State General Fund.

Fiscal year 2017: 2/3 to State Highway Fund, 1/3 to State General Fund.

Fiscal year 2018 and thereafter: 100% of oil severance tax revenues deposited to State Highway Fund; effective July 1, 2014.