Bill > HB442

This bill authorizes the State of Mississippi to issue up to $100 million in general obligation bonds to fund public school capital improvements by creating a special "2025 Public Schools Capital Improvements Fund". The bonds will be issued by the State Bond Commission and can be sold through public bidding or negotiated sale, with a maximum maturity of 25 years and interest rates not exceeding legal limits. The funds will be distributed to school districts through a two-part formula: 30% based on each district's average daily attendance, and 70% based on the number of at-risk students in each district (defined according to the Mississippi Student Funding Formula). The bonds are backed by the full faith and credit of the state, meaning if appropriated funds are insufficient, the State Treasurer will cover any shortfall from other available funds. The bonds will be tax-exempt and considered legal investments for various financial institutions. The funding can be used for capital improvements as defined in existing state law, and any remaining funds after project completion will be applied to debt service. The bond issuance is limited to bonds issued before July 1, 2029, with the act taking effect on July 1, 2025.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0442.xml