MS SB3046

Appropriates $422,365,135.00 from the State General Fund for paying service charges to banks and maturing full faith and credit bonds and interest falling due during Fiscal Year 2026.

Appropriates $17,750,250.00 from special source funds and interest earnings on bond proceeds for paying maturing full faith and credit bonds and interest during Fiscal Year 2026.

Authorizes expenditure of $34,537,475.00 from special source funds and interest earnings on bond proceeds for paying maturing revenue bonds and interest during Fiscal Year 2026.

Allocates $500,000.00 of Section 1 funds specifically for bank service charges, requiring itemized statements from banks attached to State Treasurer requisitions.

Takes effect July 1, 2025 and authorizes the State Treasurer to accept and expend excess funds from interest earnings on bond proceeds or loan repayments in accordance with Department of Finance and Administration rules.