Bill > HB629

This bill authorizes the University of Mississippi's Board of Trustees to enter into a long-term lease of specific university properties for development purposes, including academic buildings, housing, dining halls, parking facilities, and retail spaces. The lease can last up to 45 years, with additional options for renewal periods totaling up to 15 years. The bill identifies four specific property areas for potential leasing: Kincannon, West Row, South Parking Lot, and South Campus Recreation Center. Any lease or sublease must be approved by the Board of Trustees and cannot be cancelled by future boards. The university is authorized to negotiate all aspects of the lease to ensure a fair return to the state. All proceeds from these leases will be deposited into a special fund exclusively for the University of Mississippi's use. At the end of the lease term, the leased property will revert back to the university, and the state will retain all mineral rights to the leased real property. The Department of Finance and Administration is permitted to correct any discrepancies in the property description. The bill aims to provide the university with flexibility in developing and utilizing its property through public-private partnerships.

Education

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB0629.xml