MS SB2929

Appropriates $175,000,000 from the Coronavirus State Fiscal Recovery Fund to the Department of Finance and Administration for capital projects at eight Mississippi universities (Alcorn State, Delta State, Jackson State, Mississippi State, Mississippi University for Women, Mississippi Valley State, University of Mississippi, and University of Southern Mississippi) for fiscal year 2024.

Eligible capital projects include water infrastructure improvements, lead remediation, stormwater infrastructure, ventilation system improvements, COVID-19 mitigation infrastructure, and other projects allowable under Section 9901 of the American Rescue Plan Act, excluding broadband infrastructure.

Prohibits use of funds for employee premium payments and requires the Department of Finance and Administration to verify that each expenditure complies with federal Treasury Department guidelines for the Coronavirus State Fiscal Recovery Fund.

Requires universities to certify compliance with federal guidelines and mandates that any university or department improperly spending funds must repay the State of Mississippi for federal repayment obligations if determined by federal inspectors general.

Requires the Department of Finance and Administration to submit annual reports to the Joint Legislative Budget Committee by October 1 detailing projects funded, amounts allocated and expended, and project status.