MS SB2176

Creates the Gulf Coast Restoration Reserve Fund in the State Treasury to receive settlement payments from BP for economic damages from the 2010 Deepwater Horizon oil spill.

Requires the State Fiscal Officer to transfer all BP settlement funds from the Budget Contingency Fund into the new Gulf Coast Restoration Reserve Fund as soon as practicable after deposit.

Designates that monies in the Restoration Reserve Fund shall be used for projects that will benefit the Mississippi Gulf Coast.

Amends Section 27-103-302 of the Mississippi Code to direct settlement funds to the new reserve fund for appropriation by the Legislature rather than remaining in the Budget Contingency Fund.