MS SB2201

Increases the maximum compensation award for wrongfully convicted and incarcerated individuals from $500,000 to $1,000,000, while maintaining the $50,000 per year of incarceration rate.

Clarifies that compensation is paid in annual installments of $50,000 per year and that the state may purchase an annuity to satisfy the obligation.

Establishes attorney's fee structure at 10% for claim preparation, 20% for contested litigation, and 25% if appealed, paid separately from the claimant's compensation.

Specifies that the compensation award is not subject to damage caps, taxes (except attorney fees), or treatment as gross income for state tax purposes.

Takes effect July 1, 2023, and applies to claims brought under Mississippi's wrongful conviction statute (Section 11-44-7).