Bill > SB2340

This bill authorizes the Department of Finance and Administration (DFA), acting on behalf of the Department of Public Safety (DPS), to sell or lease a specific state-owned property located at 1900 East Woodrow Wilson Avenue in Jackson, Mississippi, which is currently used by the Highway Safety Patrol. The bill mandates that any money generated from this sale or lease must be deposited into the State General Fund. It also specifies that the property should be sold or leased for its highest and best use, with restrictions against certain types of development such as industrial purposes, adult entertainment, casinos, pawn shops, liquor stores, or solid waste facilities, and requires that any sale include provisions for these restrictions to be a condition of the property's reverter. The DFA is instructed to consider various factors when reviewing proposals, including the purchase price or rent, the proposed use, the development plans and investment, the projected economic impact, and the development timeline. Importantly, the state retains the right to repurchase the property or terminate a lease if the buyer or lessee fails to construct at least 50,000 square feet of improvements on the property within ten years of the sale or lease, with the repurchase price determined by fair market value appraisals. The state will also retain all mineral rights to the property, and the DFA is empowered to correct any errors in the property's legal description.

Government Affairs

https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB2340.xml