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MS SB2531

Bill

Official Source

Status

Failed

2/5/2019

Primary Sponsor

Sally Doty

Click for details

Origin

Senate

2019 Regular Session

AI Summary

  • Amends Section 29-3-113 to authorize school districts to invest sixteenth section school land principal funds in general obligation bonds of Mississippi or municipalities located in Mississippi.

  • Principal funds consist of revenues from easements, lieu land sales, permanent land damage, nonrenewable resources, building sales, timber sales, and other specified sources.

  • Board of Education must keep principal funds invested in U.S. obligations, certificates of deposit from qualified state depositories, or the newly authorized state and municipal bonds.

  • Effective July 1, 2019.

Legislative Description

Sixteenth Section School Land Principal Fund; authorize school districts to invest in Mississippi G.O. or municipal bonds.

Last Action

Died In Committee

2/5/2019

Committee Referrals

Education1/21/2019

Full Bill Text

No bill text available