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MS HB35
Bill
Status
2/4/2025
Primary Sponsor
Omeria Scott
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AI Summary
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Requires $5,000,000 of annual interest earned on the Working Cash-Stabilization Reserve Fund to be deposited into the Ayers Settlement Fund each fiscal year through June 30, 2035 (10 fiscal years)
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Eliminates the requirement to reduce the Ayers Endowment Trust by equal amounts as deposits are made into the Ayers Settlement Fund
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Removes the condition that annual Ayers Endowment Trust reductions continue until the trust reaches zero dollars
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Directs deposited funds in the Ayers Settlement Fund to be appropriated to the Board of Trustees of State Institutions of Higher Learning for establishing a public endowment benefiting Jackson State University, Alcorn State University, and Mississippi Valley State University
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Effective July 1, 2025
Legislative Description
IHL; continue annual deposits into Ayers Settlement Fund for 10 years and end reductions to Ayers Endowment Trust.
Last Action
Died In Committee
2/4/2025