MS SB2179

Creates Section 37-101-49 authorizing the Board of Trustees of State Institutions of Higher Learning to acquire or dispose of real property for state universities upon recommendation of the university chancellor/president and approval from the Department of Finance and Administration.

Allows universities to acquire property without state appropriated funds and to sell unneeded property, with sale proceeds used to purchase other properties or retained for university operations.

Requires property sales to be at fair market value as determined by professional appraisers selected and approved by the Department of Finance and Administration, with appraisals filed at least 30 days before sale and appraisal fees shared equally between university and purchaser.

Requires Department of Finance and Administration to issue written approval or denial within 30 days of a property transaction request; failure to respond within 30 days is treated as approval, and denials must include written explanation.

Amends statutes for Mississippi State University, University of Mississippi, Mississippi University for Women, University of Southern Mississippi, Delta State University, Jackson State University, and Mississippi Valley State University to authorize property acquisition and disposal consistent with new Section 37-101-49 and retains mineral rights for the state on all property sales.