MS HB214

Establishes an engineering studies scholarship program administered by the Board of Trustees of State Institutions of Higher Learning to provide undergraduate scholarships at Mississippi state institutions for students pursuing professional engineering degrees.

Scholarship awards equal the total cost of tuition and fees annually, with funds distributed equally among state institutions offering undergraduate engineering degrees, and awards not based on financial aid eligibility.

Recipients must maintain a "C" average or higher, obtain a bachelor's degree in engineering, obtain a professional engineer license, and complete 4 years of service as an engineer for a state agency.

Scholarship recipients who fail to complete their engineering degree, obtain licensure, or fulfill the 4-year service obligation become immediately liable for all scholarship awards plus interest at the current Stafford Loan rate, plus attorney fees if collected through legal action.

Program is funded by an additional $1.00 fee on each oil and gas lease recording by chancery clerks, with fees deposited into a special fund created in the State Treasury; act takes effect July 1, 2016.