MS SB2897

Establishes the State-Managed Disaster Assistance Program administered by the Mississippi Emergency Management Agency (MEMA) to provide state-funded emergency preparedness, response, and recovery when federal aid thresholds are not met

Creates the State-Managed Disaster Assistance Trust Fund as a special fund in the State Treasury, which can only be invoked following a gubernatorial state of emergency declaration or executive order

Authorizes the MEMA director to allocate up to $20 million aggregate to state agencies for emergency response, damage assessments, and training costs

Requires local governments to declare a local emergency and submit applications to be eligible for state disaster funding, with state contributions reduced by any insurance settlements received

Allows unexpended trust fund balances to carry forward across fiscal years rather than lapsing to the General Fund, with effective date of July 1, 2026