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MS SB2747

Bill

Official Source

Status

Failed

1/30/2018

Primary Sponsor

Joey Fillingane

Click for details

Origin

Senate

2018 Regular Session

AI Summary

  • Amends Section 31-18-7 of the Mississippi Code to exempt restructuring of variable rate bonds from the 2% net present value savings requirement
  • Removes the requirement that the State Bond Commission find that variable rate refunding bonds will result in overall net present value savings of at least 2% of bonds being refunded when restructuring existing variable rate bonds
  • Allows the State Bond Commission to restructure variable rate bonds without meeting the 2% savings threshold, though the requirement still applies to other refunding scenarios
  • Effective July 1, 2018

Legislative Description

Variable rate refunding bonds; requirement that they must result in 2% savings does not apply to restructuring of variable rate bonds.

Last Action

Died In Committee

1/30/2018

Committee Referrals

Finance1/15/2018

Full Bill Text

No bill text available