MS SB2729

Authorizes the Department of Finance and Administration to sell, lease, or redevelop through a public-private partnership the Sun-n-Sand Property (5.28 acres in Jackson) located at Hinds County Parcels 80-54, 80-55, and 80-55-1.

Requires the sale price to be at least fair market value (average of two appraisals) or the original purchase price plus all direct/indirect costs, whichever is greater; any lease must recover total costs within five years or less.

Requires any contract to include a minimum of 200 parking spaces for state employees and a construction completion timeline; all revenue from the sale or lease goes to the State General Fund after reimbursing development facilitator fees.

Retains state rights to repurchase the property or terminate the lease if construction does not commence within six months, is not completed on time, or if the buyer/lessee attempts to assign rights before construction completion.

State retains all oil, gas, and mineral rights; development must serve highest and best use while preserving educational, residential, commercial, and historical integrity of the surrounding community.