MS SB2892

Creates the State Capitol Infrastructure Fund, funded by diverting 12.5% of sales tax revenue collected in Jackson (effective August 15, 2017), with 15% of that revenue going to the City of Jackson for police and fire protection at state facilities and 85% deposited into the fund.

Requires the Department of Finance and Administration to implement, supervise, and administer infrastructure improvement projects in Jackson (including street repairs, water/sewer lines, drainage systems, bridges, lighting, and sidewalks) with at least 95% of fund money used for projects and no more than 5% for administrative costs.

Establishes the State Capitol Infrastructure Fund Project Advisory Committee with 11 members appointed by the Mayor of Jackson, Governor, Lieutenant Governor, House Speaker, Jackson State University, University of Mississippi Medical Center, and Mississippi Department of Archives and History to consult on comprehensive improvement plans.

Requires the Department of Finance and Administration to develop a comprehensive infrastructure improvement plan in consultation with the advisory committee, subject to approval by Jackson's governing authorities, with updates allowed anytime and complete updates required every five years.

Sets a goal for the Department to expend at least 10% of improvement project funds with minority-owned small businesses and requires the City of Jackson to maintain all completed projects.