MS HB1662

Authorizes the State Bond Commission to issue up to $10,000,000 in general obligation bonds to fund vocational and technical education program improvements in Mississippi school districts, with bonds issuable only until July 1, 2021.

Establishes the "2017 Public School Vocational and Technical Education Fund" within the State Treasury to receive bond proceeds, with unexpended amounts not lapsing and all investment earnings deposited back into the fund.

Requires school districts seeking funding to submit written applications to the State Board of Education that include requested dollar amounts, detailed descriptions of needed improvements, documentation of student enrollment increases, evidence of program employment success, and other information the board requires.

Directs the State Board of Education to adopt rules and regulations governing the application process and establishing criteria for allocating funds to eligible school districts.

Pledges the full faith and credit of the State of Mississippi to guarantee repayment of bonds, with any shortfall to be paid from the State Treasury, and bonds are exempt from state taxation.