MS SB2728

Authorizes the Board of Trustees of State Institutions of Higher Learning to enter into long-term leases of University of Mississippi property for up to 30 years to develop academic buildings, housing, dining facilities, parking, and retail spaces.

Requires all leases and amendments to be subject to approval by the Board of Trustees and prohibits cancellation by successor boards under the binding successor doctrine.

Grants the University of Mississippi authority to negotiate all lease terms and ancillary agreements with Board approval to ensure fair and equitable return to the state.

Directs all proceeds from leases to be deposited into a special fund for exclusive use by the University of Mississippi, with leased property reverting to the university at lease termination.

Preserves all mineral rights for the State of Mississippi and authorizes the Department of Finance and Administration to correct property discrepancies; effective July 1, 2024.