MS HB689

Authorizes the State Board of Education to form private foundations or nonprofit corporations for the Mississippi School for the Deaf and Mississippi School for the Blind to conduct fundraising and receive donations.

Prohibits public funds from being deposited into foundation accounts and prevents the Legislature from appropriating State General Fund or Special Fund monies to these entities.

Requires all foundation funds to remain separate from state allocations and be maintained independently until disbursement.

Mandates private foundations or nonprofit corporations to be subject to annual financial audits by the State Auditor and donor auditors, with detailed financial reporting to the Legislature.

Extends the same private foundation authority to the State Department of Education for fundraising purposes, effective July 1, 2019.