MS SB2291

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 an easement of 0.91 acres.

Requires property sales to be at fair market value determined by averaging at least two independent appraisals certified by the Mississippi Real Estate Appraiser Licensing and Certification Board.

Permits leases of up to 40 years with terms negotiated by the university and approved by the Board of Trustees; leases cannot be cancelled by successor boards under the binding successor doctrine.

Restricts property use to align with the university's research, innovation, and commercialization goals and ensures use does not interfere with university operations; state retains all mineral rights.

Amends Chapter 415, Laws of 2014 to correct property descriptions for two parcels in Hattiesburg totaling 6.88 acres and authorizes the Department of Finance and Administration to correct future discrepancies in property descriptions.