MS HB292

Authorizes issuance of $16,000,000 in state general obligation bonds for capital improvements at three universities: Alcorn State University ($4,000,000), Jackson State University ($8,000,000), and Mississippi Valley State University ($4,000,000).

Allocates funds for specific projects including water plant improvements at Alcorn, Stewart Hall repairs and renovations at Jackson State, and Academic Skills Building repairs plus student union expansion at Mississippi Valley State.

Creates a special fund within the State Treasury to disburse bond proceeds with approval of the Board of Trustees of State Institutions of Higher Learning, with unused funds reverting to debt service after four years.

Permits the State Bond Commission to issue bonds with interest rates not exceeding statutory limits and maturities up to 25 years, with proceeds disbursed solely for authorized capital projects and related administrative costs capped at 2% per project.

Pledges the full faith and credit of the State of Mississippi to bond repayment and exempts bond proceeds and income from state taxation; bonds must be issued by July 1, 2023.