HB 1086 Summary

• Creates the Mississippi Liquor Distribution Corporation as a new wholesale distributor and seller of alcoholic beverages in the state, replacing the Department of Revenue's distribution role.

• Establishes a five-member board of directors (including the Commissioner of Revenue) appointed by the Governor with Senate approval to oversee the corporation's operations and finances.

• Authorizes the corporation to charge fees for distribution operations and retain net proceeds in a corporate operating account, with funds used for facility renovation/expansion and operational costs.

• During a one-year transition period (July 1, 2020 - June 30, 2021), both the department and corporation may distribute alcoholic beverages; 12% of markup revenue flows to the corporation to cover startup costs.

• Requires the corporation to maintain public records (with certain exemptions), conduct annual independent audits, and submit quarterly and annual financial reports and budgets to the Legislature and Joint Legislative Budget Committee.