MS SB2565

Amends Section 29-3-113 of the Mississippi Code to allow school districts to spend interest and accumulated expendable trust funds from 16th section school lands once the district is current on loan payments.

Permits districts to spend funds earned or accumulated in previous years for any authorized purpose after making annual loan payments, rather than restricting all expenditures until payment is made.

Maintains existing restrictions that school land trust funds cannot be expended before the annual payment date on loans unless payments are current.

Takes effect upon passage.