Bill > HB1129

This bill establishes a new mechanism for managing educational facilities loan repayments in Mississippi. The Department of Finance and Administration (DFA) is authorized to receive repayments on approved loans from the Educational Facilities Revolving Loan Fund Program, with the Department of Education required to provide all loan repayment terms and outstanding balances to the DFA. These repayments will be deposited directly into the Education Enhancement Fund. If a school district falls behind on loan repayments, the Department of Education must remit the owed amount to the DFA and will withhold an equivalent amount from the district's future funding formula payments. The bill also amends existing law to include these loan repayments as a revenue source for the Education Enhancement Fund and directs the State Treasurer to transfer any remaining funds from the Educational Facilities Revolving Loan Fund to the Education Enhancement Fund. Additionally, the provisions related to loan repayments are set to be automatically repealed on July 1, 2034, providing a sunset clause for this specific set of regulations. The bill aims to create a more streamlined and accountable process for managing educational facility loans and ensuring timely repayments by school districts.

Budget and Finance

https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB1129.xml