MS HB1129

Authorizes the Department of Finance and Administration to receive repayments on approved loans from the Educational Facilities Revolving Loan Fund Program, which was repealed on July 1, 2024.

Requires the Department of Education to provide loan terms and balances owed by school districts to the Department of Finance and Administration, with repayments deposited into the Education Enhancement Fund.

Allows the Department of Finance and Administration to notify the Department of Education of school districts in arrears on loan repayments, and directs the Department of Education to withhold those amounts from future total funding formula payments to the delinquent district.

Directs the State Treasurer and State Fiscal Officer to transfer all remaining funds from the Educational Facilities Revolving Loan Fund to the Education Enhancement Fund upon the effective date.

Sections 1 and 2 of this act expire on July 1, 2034, with Section 1 effective from July 1, 2024, and remaining provisions effective upon passage.