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MS SB2590
Bill
AI Summary
- Amends Chapter 493, Laws of 2016 to increase Mississippi State University's land lease authorization for student housing from the original term to 40 years plus two 10-year renewal options and one 5-year renewal option
- Authorizes the Board of Trustees of State Institutions of Higher Learning to approve long-term leases and subleases of approximately 34.293 acres near Starkville for developing housing and retail space
- Requires all lease proceeds to be deposited into a special fund for exclusive use and benefit of Mississippi State University
- Provides that property reverts to Mississippi State University at lease expiration, with the state retaining all mineral rights
- Takes effect July 1, 2023
Legislative Description
Mississippi State University authority to lease property for public-private partnership student housing; increase term.
Last Action
Approved by Governor
3/3/2023
Committee Referrals
Universities and Colleges2/7/2023
Universities and Colleges1/16/2023
Full Bill Text
No bill text available