Bill > HB1325

This bill modifies the rules for how county boards of supervisors in Mississippi select financial institutions to serve as county depositories for public funds. Currently, boards of supervisors give notice and receive bids for county depositories at their December meeting, with some flexibility in timing. The bill introduces a specific provision that, beginning July 1, 2025, when a board is in its last year of a four-year term, the interval for giving notice and receiving bids shall be limited to no more than 24 months. The bill also removes a previous prohibition that prevented boards from designating a depository during their last year in office. The legislation maintains existing requirements that depositories be selected based on multiple factors including net earnings, account costs, banking services, and fund safety, and preserves the option for boards to submit bids to the State Treasurer if there might be a conflict of interest involving a board member. The goal appears to be providing more flexibility and clarity in the process of selecting county financial depositories while maintaining fiscal oversight.

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https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB1325.xml