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MS SB2719
Bill
AI Summary
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Prohibits the State Bond Commission from issuing and selling general obligation bonds of Mississippi, effective July 1, 2018, except for bonds authorized for critical transportation infrastructure repairs affecting public safety.
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Requires the Working Cash-Stabilization Reserve Fund balance to be at least 7.5% of total general fund appropriations for the current fiscal year before bonds can be issued.
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Requires the Mississippi Department of Transportation to certify to the State Bond Commission that critical repairs to transportation infrastructure affecting public safety have been completed.
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Replaces references to "Chairman of the State Tax Commission" with "Commissioner of Revenue" in Section 31-17-3 of the Mississippi Code.
Legislative Description
State Bond Commission; may not sell g.o. bonds unless Rainy Day Fund is fully funded and critical infrastructure repairs are completed.
Last Action
Died In Committee
1/30/2018