MS SB2681

Jackson State University is authorized to sell 127 parcels of tax-forfeited real property in Jackson, Mississippi that are no longer used for educational purposes, with Board of Trustees approval.

Adjacent homeowners have a 30-day right of first refusal to purchase properties sharing a common boundary; if no adjacent homeowner purchases, other homeowners on the same street, block, or within 0.25 square mile neighborhood may purchase.

Properties not purchased by homeowners within 30 days must be transferred to a nonprofit community development corporation (CDC) that serves community revitalization around the university.

The CDC must advertise properties for sale for three consecutive weeks in public places and newspapers, and must transfer 50% of net proceeds from sales to the "Jackson State University Surplus Properties Fund" for university-approved purposes.

Any properties remaining unsold by December 31, 2019 revert to Jackson State University on January 1, 2020; the section repeals on July 1, 2029.