Loading chat...

MS HB410

Bill

Official Source

Status

Failed

1/31/2023

Primary Sponsor

Nick Bain

Click for details

Origin

House of Representatives

2023 Regular Session

AI Summary

  • Increases the maximum surety bond amount for municipal aldermen and councilmen from $100,000 to $1,000,000

  • Bond amount is calculated as 5% of all municipal taxes collectible in the year immediately preceding the official's term of office, up to the new maximum

  • Minimum bond amount remains $50,000 for municipalities with populations exceeding 2,000 according to the latest federal census

  • Effective date of July 1, 2023

Legislative Description

Alderman and councilmen; increase the maximum amount of surety bond that may be given by.

Last Action

Died In Committee

1/31/2023

Committee Referrals

Municipalities1/12/2023

Full Bill Text

No bill text available