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MS HB1628
MS HB1628"MS Student Funding Formula"; clarify provision that requires deposit of certain tax revenue into the Education Enhancement Fund does not repeal.
summary
Introduced
01/22/2025
01/22/2025
In Committee
01/22/2025
01/22/2025
Crossed Over
Passed
Dead
02/04/2025
02/04/2025
Introduced Session
2025 Regular Session
Bill Summary
An Act To Amend Section 119, Chapter 484, Laws Of 2024, Mississippi Code Of 1972, To Clarify That Subsection 27-65-75(5) Should Not Repeal Because The Previous "educational Facilities Revolving Loan Fund," Which Was The Original Fund Of Deposit, Was Abolished And Replaced With The "education Enhancement Fund" As The Fund Of Deposit For The Tax Revenue Collected For Such Purposes Under The "mississippi Student Funding Formula"; To Amend Section 27-65-75, Mississippi Code Of 1972, To Clarify The Deposit Of Loan Repayments Under The Former Educational Facilities Revolving Loan Fund Shall Be Made To Dfa Until Such Financial Obligations, Are Satisfied In Full; And For Related Purposes.
AI Summary
This bill clarifies the tax revenue deposit provisions related to the Mississippi Student Funding Formula and the Education Enhancement Fund. Specifically, the bill ensures that the repeal of the Educational Facilities Revolving Loan Fund does not affect the ongoing deposit of tax revenues into the Education Enhancement Fund. The bill adds language requiring that any outstanding loan repayments from school districts for funds previously received under the now-repealed Educational Facilities Revolving Loan Fund must be remitted to the Department of Finance and Administration and deposited into the Education Enhancement Fund until all remaining financial obligations are fully satisfied. This technical amendment preserves the existing funding mechanism and ensures that any remaining financial commitments from the previous loan fund are properly handled, maintaining the intended financial structure for educational funding in Mississippi.
Committee Categories
Education
Sponsors (1)
Last Action
Died In Committee (on 02/04/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://billstatus.ls.state.ms.us/2025/pdf/history/HB/HB1628.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2025/html/HB/1600-1699/HB1628IN.htm |
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