MS SB2471

Requires the State Treasurer to annually review by August 1 all public funds, accounts, and trusts receiving interest from pooled investments to identify those with no transactional activity other than interest receipts during the prior fiscal year

Authorizes the Treasurer to stop interest allocations to inactive funds and directs closure or consolidation of such funds in coordination with the State Fiscal Officer and relevant agencies

Establishes an exception process allowing state agencies to request exemptions from standard investment requirements by demonstrating sufficient justification, such as legal restrictions

Mandates all state agencies report detailed information about their funds, accounts, and trusts (including purpose, legal authority, interest retention, and closure eligibility) to the Treasurer by September 30, 2026, with recurring reports every four years following statewide elections

Requires the Treasurer to compile agency reports and submit recommendations on fund closures, idle funds, and statutory changes to the Legislative Budget Office by December 15, 2026, with the State Fiscal Officer authorized to withhold payments from non-compliant agencies