MS SB2053

Requires state agencies, departments, and institutions to notify the Governor, Lieutenant Governor, Speaker of the House, and chairs of both Appropriations Committees within 15 days of determining a deficit is likely for the current fiscal year

Prohibits state agencies from operating in a manner that results in a year-end deficit, except as provided in the act

Mandates agencies facing potential deficits to work with the Legislative Budget Office and Department of Finance and Administration to develop a deficit avoidance or limitation plan

Requires deficit prevention plans to include restricting travel, conference attendance, and purchases of equipment, vehicles, and other non-essential items

Takes effect July 1, 2023