MS HB875

Department of Finance and Administration authorized to sell state-owned real property on Key Drive in Madison County currently under possession of the Mississippi Board of Pharmacy.

Property must be sold for no less than fair market value as determined by the average of at least two appraisals by certified and licensed appraisers.

All proceeds from the property sale shall be deposited into a special fund called the "Mississippi Board of Pharmacy Property Fund" created in the State Treasury to support the Prescription Monitoring Program.

Unexpended amounts in the special fund do not lapse into the State General Fund at fiscal year end, and all interest earned on fund amounts shall remain in the fund.

State of Mississippi retains all mineral rights to the property being sold, and the Department of Finance and Administration may correct discrepancies in the legal property description.