MS SB2726

Deposits settlement funds received by Mississippi from the Deepwater Horizon oil spill into a new Gulf Coast Restoration Fund instead of the Budget Contingency Fund.

Creates the Gulf Coast Restoration Fund in the state treasury to be administered by the Department of Marine Resources for ecological habitat enhancement, economic development, and community benefit in Hancock, Harrison, Jackson, Pearl River, Stone, and George counties.

Establishes a 9-member Board of Trustees of the Gulf Coast Restoration Fund (3 members appointed by the Governor, 3 by the Lieutenant Governor, 3 from county economic development entities) to review applications and recommend assistance awards to the Department of Marine Resources.

Requires all requests for proposals for expenditures from the fund to be approved by the Personal Service Contract Review Board and mandates performance measures and monitoring for all assistance awards.

Requires the Department of Marine Resources to file an annual report by December 1 to the Governor and legislature detailing fund receipts, expenditures, applications reviewed, awarded projects, and recommendations for fund effectiveness.