MS SB2992

Authorizes the Board of Trustees of the Lafayette County Reserve and Trust Fund to invest fund assets in any investments authorized for the Public Employees' Retirement System under Mississippi Code Section 25-11-121(1).

Establishes the fund structure with two components: a corpus (principal) that remains inviolate and generates investment income, and an earnings component equal to 3% of the full fund balance annually available for distribution.

Permits the board of supervisors to transfer earnings component funds to the county general fund for special projects by majority vote, provided the full fund balance does not fall below the initial deposit amount.

Authorizes withdrawals from the corpus component of up to 5% annually or any amount during declared state or local emergencies; requires earnings disbursements to cease and income to be retained until the corpus is restored to pre-withdrawal amounts.

Dissolves the trust and repeals the act if the trust account balance reaches zero.