MS SB3003

Amends Section 55-24-17 of the Mississippi Code to authorize the Mississippi Coast Coliseum Commission to expend up to $7,000,000 from its trust fund for capital expenses of the Mississippi Coast Coliseum.

Replaces previous language limiting withdrawals to hurricane damage repairs with broader authority to use trust fund principal for capital expenses without reimbursement requirements.

The trust fund is established from tax proceeds under Chapter 863, Local and Private Laws of 1987, and may be invested in U.S. Treasury securities, federal agency securities, certificates of deposit, and money market funds.

Interest earned on the trust fund continues to be used for operating, maintenance, replacement expenses, and debt service for capital improvements.

Takes effect upon passage.