MS SB2340

Authorizes the Department of Finance and Administration to sell or lease the 10.17-acre Highway Safety Patrol headquarters property at 1900 East Woodrow Wilson Avenue in Jackson, Mississippi, on behalf of the Department of Public Safety

Requires the sale price to be at least the fair market value based on the average of two appraisals by certified appraisers, with all proceeds deposited into the State General Fund

Restricts redevelopment to commercial, residential, and/or retail uses, prohibiting industrial purposes, adult entertainment, casinos, pawn shops, gaming establishments, liquor stores, and solid waste facilities

Grants the state the right to repurchase the property or terminate a lease if the buyer or lessee fails to complete construction of at least 50,000 square feet of improvements by December 31 of the tenth year after the sale or lease

Requires the state to retain all oil, gas, and mineral rights to the property regardless of whether it is sold or leased