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MS HB1
Bill
Status
Passed
1/30/2024
Primary Sponsor
John Read
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AI Summary
- Creates the "Project Atlas Fund" as a special fund in the State Treasury to provide grants or loans for data processing facility projects as defined in Mississippi Code Section 57-75-5(f)(xxxiii)
- Directs the State Treasurer to transfer $44,000,000 from the Capital Expense Fund to the Project Atlas Fund upon the act's effective date
- Authorizes the Mississippi Development Authority (MDA) to disburse monies from the fund and allows reimbursement of MDA's actual oversight costs and engineering expenses, capped at 1.25% of appropriated monies
- Requires MDA to file an annual report by January 5 detailing fund disbursements, costs incurred, and the number and amount of grants and loans to the Speaker of the House, Lieutenant Governor, relevant committee chairs, and the Governor
- Unexpended amounts in the fund do not lapse into the State General Fund at the end of a fiscal year, and any investment earnings or interest remain credited to the fund
Legislative Description
Project Atlas Fund; create.
Last Action
Approved by Governor
1/30/2024
Committee Referrals
Appropriations1/25/2024
Appropriations A1/25/2024
Full Bill Text
No bill text available