MS SB2882

Amends cost savings calculation for private correctional facility contracts to measure savings over the entire contract term rather than annually, and permits consideration of scheduled rental and operating payments in the cost analysis.

Changes the certified cost per day baseline used to validate the 10% cost savings requirement from the cost established at contract execution to be recalculated every two years by PEER and a certified public accounting firm.

Increases maximum contract term for private correctional facility operations from 5 years to 20 years and eliminates the option to renew contracts.

Expands contract scope to include maintenance, construction, purchase, or lease of facilities in addition to operation and incarceration of inmates.

Requires private operators to convey leased facilities to the state at the state's option for $1.00 and makes all housing contracts subject to annual legislative appropriation.