MS SB2279

Changes the annual valuation date for the Lowndes County Reserve and Trust Fund from December 31 to August 31

Moves the reporting deadline for fund valuations from July 1 to March 1 of the following year

Allows the board of trustees to transfer up to 3% of the fund's August 31 balance to the county general fund for designated special projects upon majority board vote

Requires that fund distributions cannot reduce the fund balance below the original initial corpus amount deposited

Permits the board of supervisors to withdraw from the corpus component in declared state or local emergencies, with all subsequent income retained to replenish the corpus until it returns to original value