Bill > HB206

This bill authorizes the State of Mississippi to issue up to $100 million in general obligation bonds, which are essentially loans backed by the state's full faith and credit, to fund public school capital improvements. The funds will be deposited into a special account called the "2026 Public Schools Capital Improvements Fund" and will be distributed by the State Department of Education to school districts. Thirty percent of the funds will be allocated based on each district's total average daily attendance, while seventy percent will be distributed based on the average daily attendance of "at-risk pupils," defined as those identified as at risk for funding purposes under the Mississippi Student Funding Formula. The State Bond Commission, a body responsible for issuing state debt, will manage the bond issuance process, including determining the terms of the bonds, selling them, and ensuring the proceeds are used for their intended purpose. Any remaining funds in the special account after projects are completed will be used to pay off the bonds. The bonds will mature within 25 years of issuance and cannot be issued after July 1, 2030, with the act taking effect on July 1, 2026.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0206.xml