MS HB442

Authorizes issuance of general obligation bonds up to $100,000,000 by the State Bond Commission to fund school district capital improvements, with no bonds issued after July 1, 2029.

Creates the "2025 Public Schools Capital Improvements Fund" within the State Treasury to receive bond proceeds and distribute funds to school districts: 30% based on average daily attendance and 70% based on at-risk pupil attendance.

Bonds are backed by full faith and credit of the State of Mississippi, mature within 25 years, and are exempt from state taxation with interest payable semiannually or annually.

State Treasurer must certify necessity for warrants to the Department of Finance and Administration to pay bond principal and interest when due from state funds if appropriations are insufficient.

Act takes effect July 1, 2025, and allows bond proceeds to be used only for school capital improvements and costs incident to bond issuance and sale.