MS HB1650

State Treasurer must annually review by August 1 each public fund, account, or trust receiving interest from pooled investments to identify those with no transactional activity other than interest receipts during the prior fiscal year

Treasurer may stop interest allocations to inactive funds and, along with the State Fiscal Officer and associated agency, must close or consolidate these dormant funds unless a statutory amendment is required

State agencies must report detailed information about all their funds by September 30, 2026, including fund purpose, legal authority, interest retention rules, and whether funds can be closed or consolidated

Treasurer must compile agency reports and submit recommendations to the Legislative Budget Office by December 15, 2026, with full reports required every four years following statewide elections and interim reports in other years

State Fiscal Officer may withhold Treasury payments from agencies that fail to submit required fund information on time