MS HB555

Authorizes issuance of up to $10,000,000 in state general obligation bonds to fund vocational and technical education improvements in public school districts, with all bonds to be issued by July 1, 2022.

Establishes the "2018 Public School Vocational and Technical Education Fund" within the State Treasury to receive bond proceeds and disburse funds to eligible school districts at the discretion of the State Department of Education.

Requires school districts applying for funding to submit applications including the dollar amount requested, detailed descriptions of improvements needed, justification of need with enrollment documentation, and evidence of program employment success.

Directs the State Board of Education to adopt rules and regulations governing the application process and establishing criteria for approving allocation requests under the program.

Bonds are general obligations of Mississippi with full faith and credit of the state pledged; bond income is exempt from state taxation and may be held as legal investments by trustees, banks, and insurance companies.