MS HB1262

Authorizes the Commission on Marine Resources, with Executive Director approval, to re-designate natural/public reefs and establish a regulatory program for private leases, but limits re-designation to no more than 50% of natural/public reefs.

Requires all individual lessees to be Mississippi residents, or if a firm or corporation, to be organized under Mississippi law.

Sets lease requirements including minimum 5 acres and maximum 500 acres per individual, corporation, partnership or association, with initial 5-year terms renewable in 5-year intervals at the same ground rental rate.

Establishes minimum ground rental of $5.00 per acre, with all lease funds paid into the Seafood Fund to support oyster production, including plantings of oysters and cultch materials.

Takes effect July 1, 2019, and brings forward sections 49-15-37 and 49-15-40 of Mississippi Code for possible amendment regarding oyster cultivation and onshore molluscan depuration facilities.