MS HB1582

Community and junior colleges in Mississippi would be exempt from the standard 20-year payback requirement for facilities performance contracts, allowing contract terms to extend up to the useful life of improvements as determined by the governing board

Facilities performance contracts must include a written guarantee of cost savings, annual reconciliation comparing guaranteed versus actual savings, and measurement/verification procedures consistent with industry standards

Community colleges may procure these contracts using qualifications-based or best-value selection processes rather than competitive bidding requirements applicable to construction contracts

Each participating community college must submit annual reports to the Mississippi Community College Board and Legislature detailing contract scope, guaranteed versus realized savings, capital expenditures avoided, and facility condition outcomes

The exemption from the 20-year payback provision will automatically repeal on July 1, 2035, and the entire section governing energy performance contracts will repeal on the same date (extended from the previous 2028 repeal date)