MS SB2483

Amends Section 67-1-211 to prohibit expenditures from the ABC Warehouse Construction Fund for land acquisition, design, construction, furnishing, and equipping of a new warehouse for the Department of Revenue's Alcoholic Beverage Control Division unless the Department of Revenue and Department of Finance and Administration determine the total project cost does not exceed $55,000,000.

Brings forward Section 7, Chapter 483, Laws of 2022, which authorizes the issuance of revenue bonds not to exceed $55,000,000 for the ABC Warehouse Construction Fund project.

Establishes that bond proceeds shall be transferred to the ABC Warehouse Construction Fund and disbursed solely upon order of the Department of Finance and Administration for warehouse construction costs.

Creates a special bond sinking fund from which debt service on the bonds shall be paid, funded by appropriations and revenue from the 27.5% markup on alcoholic beverages, with any excess transferred to the State General Fund.

Takes effect upon passage.