Senate Bill 2368 Summary

• Authorizes issuance of up to $100,000,000 in state general obligation bonds for Capitol Complex Improvement District projects, with bonds to be issued by July 1, 2024

• Creates the "2020 Capitol Complex Improvement District Projects Fund" as a separate state treasury fund to receive bond proceeds and deposit funds for project costs and debt service

• Establishes that bond principal and interest shall be paid primarily from the Capitol Complex Improvement District Project Fund, with full faith and credit of the state pledged as backup if insufficient

• Bonds may have maturity of up to 25 years, bear interest at rates not exceeding limits in Section 75-17-101, and are exempt from Mississippi state taxation

• Amends Section 29-5-215 to require at least 85% of deposited fund amounts be used to repay bonds issued under this act, with remainder available for district improvement projects per comprehensive plan