House Bill 521 Summary

• Establishes the Mississippi Length-of-Service Award Program (LOSAP) administered by the Mississippi Insurance Department to provide paid length-of-service awards to eligible volunteer firefighters, including part-time and on-call members.

• Creates a LOSAP Board of Trustees comprised of the Commissioner of Insurance, State Fire Coordinator, State Treasurer, and two members appointed by the Governor and Lieutenant Governor to establish points systems, determine annual contributions, and promulgate rules.

• Creates the "Mississippi Volunteer Firefighter Length-of-Service Awards Program Fund" maintained by the State Treasurer, with monies invested in short-term bonds, Treasury Bills, or obligations of the United States, with interest earnings deposited back to the fund.

• Limits annual defined contributions to a maximum of $500 per eligible volunteer firefighter's account and allows program members to receive allocated funds upon withdrawal from the program.

• Requires the Mississippi Insurance Department to notify the LOSAP Board and State Fire Marshal of members ineligible for LOSAP funds due to failure to file required documentation, financial reports, or comply with audits, with ineligibility continuing until compliance is achieved.

• Sunsets on July 1, 2026, and takes effect July 1, 2023.