MS HB890

Authorizes the Department of Finance and Administration to sell or lease state-owned real property under University of Southern Mississippi control in Forrest County, consisting of approximately 480 acres plus a 20.24-acre parcel with easement rights.

Requires property sales to meet or exceed fair market value as determined by averaging at least two appraisals from certified Mississippi real estate appraisers; leases require university approval and cannot exceed 40 years or be cancelled by successor boards.

Permits sale or lease only if consistent with university's research and innovation goals and represents highest and best use of property without interfering with university operations.

Retains all mineral rights to the state and requires net proceeds from sales or leases to be deposited in a special State Treasury fund for exclusive benefit of University of Southern Mississippi after Department of Finance and Administration recovers transaction costs.

Amends Chapter 415, Laws of 2014 to correct property descriptions for parcels in Hattiesburg and authorizes Department of Finance and Administration to correct any discrepancies in legal descriptions.