MS HB1469

Deposits $5,000,000 of annual interest from the Working Cash-Stabilization Reserve Fund into the Ayers Settlement Fund each fiscal year through June 30, 2033 (10 fiscal years).

Eliminates the requirement to reduce the Ayers Endowment Trust by equal amounts once deposits to the Ayers Settlement Fund reach $55,000,000.

Removes the condition that the Ayers Endowment Trust provisions become null and void when the trust reaches zero dollars.

Directs appropriations from the Ayers Settlement Fund to the Board of Trustees of State Institutions of Higher Learning for establishing a public endowment benefiting Jackson State University, Alcorn State University, and Mississippi Valley State University.

Effective date is July 1, 2023.