MS HB153

Changes the valuation date for the Lowndes County Reserve and Trust Fund from December 31 to August 31 of each year to allow investment income to be determined before the county's fiscal year begins.

Requires trustees to determine the fund's value and report to the board of supervisors as soon as reasonable after August 31, but before July 1 of the following year.

Allows up to 3% of the fund's August 31 balance to be transferred to the county's general fund or other funds for special projects upon majority vote of the board of supervisors, provided the fund balance does not fall below the original corpus amount.

Permits the board of supervisors to withdraw monies from the corpus during declared states of emergency or local emergency, with all income subsequently retained to repay the corpus until it equals the original fund value.

The trust dissolves and this act is repealed if the trust account balance reaches zero.