MS SB2359

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

Allows the Mississippi Fair Commission to lease naming rights for up to 20 years for buildings, improvements, grounds, or objects on the State Fairgrounds (except the Kirk Fordice Equine Center) in exchange for consideration benefitting the commission.

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

Directs funds received from naming rights leases to be retained by the department or commission for capital improvements and marketing programs, with money deposited into special funds that do not lapse into the State General Fund.

Requires the Mississippi Fair Commission to submit an annual financial statement by January 1 detailing all monies received and expended from naming rights to the Lieutenant Governor, Speaker of the House, and relevant agriculture committee chairs.