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MS SB2218
Bill
AI Summary
- Amends Section 37-29-103 of the Mississippi Code to increase the maximum loan period for community and junior colleges from 15 years to 25 years
- Requires approval by two-thirds majority of authorized board of trustees members present and voting, with good cause documented in the board's resolution
- Loans may be repaid from the district's general fund or secured by pledges of ad valorem tax levies authorized for support, enlargement, improvement, or repairs
- Tax receipts used to repay pledged levies are excluded from the 10% growth limitation on ad valorem taxes
- Takes effect July 1, 2018
Legislative Description
Community and junior colleges; may enter into loans for up to 25 years with board of trustees' approval.
Last Action
Approved by Governor
3/16/2018
Committee Referrals
Universities and Colleges2/14/2018
Universities and Colleges1/9/2018
Full Bill Text
No bill text available