MS HB595

Authorizes issuance of up to $100,000,000 in state general obligation bonds, with no bonds issued after July 1, 2024, for Capitol Complex Improvement District projects, City of Jackson water and sewer system improvements, and Jackson Public School District facility improvements.

Allocates bond proceeds as follows: not more than 40% for Capitol Complex Improvement District projects, not more than 40% for City of Jackson water and sewer infrastructure, and not more than 20% for Jackson Public School District construction and facility improvements.

Creates the "2020 Capitol Complex Improvement District, City of Jackson and Jackson Public School District Improvements Fund" as a separate state treasury fund to receive and disburse bond proceeds for authorized projects.

Designates bond repayment to be paid primarily from the Capitol Complex Improvement District Project Fund (sales tax revenue), with the full faith and credit of Mississippi pledged as backup if funds are insufficient.

Amends Section 29-5-215 to require at least 85% of Capitol Complex Improvement District Project Fund deposits not already obligated before the act's effective date be used to repay the bonds issued under this act until such bonds are fully repaid.