MS SB2724

Establishes the Mississippi Association of Independent Colleges and Universities (MAICU) Infrastructure Grant Program using federal American Rescue Plan Act (ARPA) Coronavirus State Fiscal Recovery Funds for infrastructure projects at private colleges

Eligible institutions include Belhaven University, Blue Mountain College, Millsaps College, Mississippi College, Rust College, Tougaloo College, and William Carey University, with funds distributed based on pro rata share of full-time equivalent students

Grants fund eligible projects in priority order: water/wastewater/stormwater infrastructure, broadband infrastructure, capital investments for COVID-19 prevention and ventilation in congregate living facilities, and other ARPA-eligible projects (excluding premium pay)

Department of Finance and Administration administers the program, may retain up to $200,000 for administrative costs, and must submit annual reports to the Joint Legislative Budget Committee by October 1

Grant funds available through December 31, 2026; unobligated funds by December 2024 transfer to the State and School Employees' Life and Health Insurance Fund (up to $60 million) and then to the Unemployment Compensation Fund