Bill > HB919

This bill authorizes the issuance of state general obligation bonds, which are essentially loans backed by the full faith and credit of the State of Mississippi, to fund the construction, furnishing, and equipping of a Science, Technology, Engineering, Agriculture, and Math (STEAM) Outreach Center at Alcorn State University. The State Bond Commission, a group responsible for issuing state debt, will manage the sale of these bonds, which cannot exceed $11,917,500 and must be issued before July 1, 2030. The proceeds will be placed in a dedicated fund, the "2026 Alcorn State University Science, Technology, Engineering, Agriculture and Math (STEAM) Outreach Center Fund," and used for the center's construction, with any remaining funds after completion to be used for paying off the bonds. The bill also outlines various procedures for bond issuance, including their legal standing as negotiable instruments, tax-exempt status within Mississippi, and their suitability as investments for fiduciaries. This act will become effective on July 1, 2026.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0919.xml