MS HB305

Authorizes the issuance of general obligation bonds by Mississippi not to exceed $100,000,000 for school district capital improvements.

Creates the "2019 Public School Capital Improvements Fund" within the State Treasury to receive bond proceeds and distribute funds to school districts based on average daily attendance (30%) and at-risk pupil attendance (70%).

Bonds shall mature within 25 years, bear interest not exceeding limits in Mississippi Code Section 75-17-101, and are backed by the full faith and credit of the State of Mississippi.

Bonds and income are exempt from Mississippi state taxation and constitute legal investments for trustees, fiduciaries, banks, and insurance companies in the state.

Takes effect July 1, 2019.