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MS HB1600
Bill
Status
2/27/2019
Primary Sponsor
Kevin Ford
Click for details
AI Summary
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Authorizes the Department of Finance and Administration to incur short-term debt with State Bond Commission concurrence when federal funds are unavailable due to a federal government shutdown for operating and maintaining national parks or federal recreation areas in Mississippi.
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Limits state assistance to an amount not exceeding the funds from private, local, and other sources that have been irrevocably dedicated for such purposes.
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Requires debt issued under this authority to mature within approximately equal installments of principal and interest over a period not exceeding one year from issuance.
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Caps the maximum outstanding debt at any time under this section at $100,000.
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Effective July 1, 2019.
Legislative Description
DFA; authorize to incur short-term debt to assist with operation of federal parks/visitors areas affected by federal government shutdown.
Last Action
Died In Committee
2/27/2019