MS SB2664

Creates the Fund Rural Education Evenly Grant Program to be administered by the Department of Education for rural schools to construct, upgrade, or renovate campus buildings.

Requires each eligible rural school district to receive a minimum grant of $100,000 by October 1, 2024, with remaining funds distributed upon application.

Establishes the FREE Act Fund as a special fund in the State Treasury to hold monies for the grant program, with unexpended amounts not lapsing at fiscal year end.

Allows the Department of Education to use up to 1.25% of appropriated funds to reimburse reasonable oversight costs for administering the grant program.

Requires the Department to submit annual reports to the Lieutenant Governor, Speaker of the House, and Governor by December 1 each year detailing fund distributions.