MS HB574

Authorizes the Mississippi Department of Agriculture and Commerce Commissioner to lease naming rights for department buildings, improvements, grounds, or objects for terms up to 20 years in exchange for consideration benefiting the department.

Authorizes the Mississippi Fair Commission to lease naming rights for State Fairgrounds buildings and property (excluding the Kirk Fordice Equine Center) for terms up to 20 years, with funds used for capital improvements or operating budget.

Requires lessees to pay all costs for erecting, maintaining, and removing signage related to leased naming rights properties.

Permits the Fair Commission chairman to establish a private foundation or nonprofit corporation to receive and disburse funds from naming rights sales and other donations, with all funds remaining separate from state general appropriations.

Requires annual financial reporting by the Fair Commission to legislative leadership detailing all monies received and expended from naming rights leases and donations.