HB 1416 Summary

• Establishes an engineering studies scholarship program administered by the Board of Trustees of State Institutions of Higher Learning that covers full tuition and fees for undergraduate engineering degrees at Mississippi public universities.

• Scholarship recipients must maintain a "C" average or higher and are required to work as engineers for a state agency for at least 4 years after obtaining their professional engineer license.

• Recipients who fail to complete their engineering degree, obtain licensure, or fulfill the 4-year state service obligation become immediately liable for all scholarship amounts plus interest at the Stafford Loan rate, plus attorney fees if collected by legal action.

• Funds the program through a $1.00 additional fee on each oil and gas lease recording by chancery clerks, deposited into a special state treasury fund; available funds distributed equally among eligible state engineering programs.

• Takes effect July 1, 2023, with the $1.00 recording fee continuing through December 31, 2027, and optionally resuming after January 1, 2028.