MS HB1648

Authorizes issuance of up to $5,000,000 in state general obligation bonds to acquire the former Wright and Ferguson Funeral Home property located within the Capitol Complex in Jackson, Hinds County, Mississippi

Creates the "2017 Property Acquisition and Renovation Fund" within the State Treasury to hold bond proceeds, with unexpended amounts carrying over between fiscal years

Bonds must be issued before July 1, 2021, with a maximum maturity of 25 years from the date of issue

Bonds and income from them are exempt from all Mississippi state taxation and constitute legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies

Department of Finance and Administration, through the Bureau of Building, Grounds and Real Property Management, will direct expenditure of funds and may accept local or other source funds for the project