MS HB388

Authorizes issuance of up to $5,000,000 in state general obligation bonds to fund Jackson State University's Science, Technology, Engineering and Mathematics (STEM) program.

Creates a special fund designated the "2021 Jackson State University Science, Technology, Engineering and Mathematics (STEM) Program Fund" within the State Treasury to receive bond proceeds and disburse funds for program administration and operation.

Bonds may not be issued after July 1, 2025, with maturity dates not exceeding 25 years from issuance.

State Bond Commission manages bond issuance, determines sale method, and establishes bond terms including interest rates and redemption options.

Bonds are general obligations of Mississippi backed by the full faith and credit of the state; income from the bonds is exempt from Mississippi state taxation.