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MS HB1488
Bill
Status
2/5/2026
Primary Sponsor
Missy Warren McGee
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AI Summary
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Amends Chapter 445, Laws of 2016 to allow the Department of Finance and Administration to defer to the University of Southern Mississippi's recommendations on sale terms for university property, subject to Board of Trustees approval
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Authorizes sale or lease of approximately 500 acres of state-owned real property in Forrest County, Mississippi currently under USM's control
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Requires any sale price to meet or exceed fair market value determined by averaging at least two certified appraisals
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Limits any lease term to a maximum of 40 years, with provisions preventing cancellation by successor boards
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Restricts property use to purposes consistent with the university's research, innovation, and commercialization goals, while the State of Mississippi retains all mineral rights
Legislative Description
University of Southern Mississippi; authorize to sell or enter long term lease for use of university property.
Last Action
Decline to Concur/Invite Conf
3/16/2026