summary
Introduced
01/19/2026
01/19/2026
In Committee
02/16/2026
02/16/2026
Crossed Over
02/11/2026
02/11/2026
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act To Enact The "state Treasury Efficiency And Transparency Act"; To Amend Section 27-105-3, Mississippi Code Of 1972, To Define The Terms "pooled Investment Vehicle," "state Agency" And "state Fiscal Officer"; To Create New Section 27-105-32, Mississippi Code Of 1972, To Require The State Treasurer To Annually Review Each Public Fund, Account Or Trust That Receives Interest Allocation From A Pooled Investment Vehicle To Determine If The Fund, Account Or Trust That Receives Interest Had No Transactional Activity, Other Than The Receipt Of Interest Within The Prior Fiscal Year; To Authorize The State Treasurer To Preclude Certain Funds, Accounts Or Trusts From Received Interest; To Direct Certain Funds To Be Closed Or Consolidated Within The State Treasury; To Amend Section 27-105-33, Mississippi Code Of 1972, To Authorize An Exception To The Investment Requirements Of This Chapter Upon A Demonstration Of Sufficient Justification; To Create New Section 27-105-34, Mississippi Code Of 1972, To Require Each State Agency To Review Its Funds, Accounts And Trusts Within And Outside Of The State Treasury And Report Certain Information To The Treasurer; To Require The Treasurer To Report Certain Compiled Information To The Legislative Budget Office And The Senate And House Legislative Services Office; To Amend Section 27-105-1, Mississippi Code Of 1972, To Conform; And For Related Purposes.
AI Summary
This bill, known as the "State Treasury Efficiency and Transparency Act," aims to improve how state funds are managed by defining key terms like "pooled investment vehicle" (money from multiple sources combined for investment), "state agency" (government departments), and "State Fiscal Officer" (the executive director of the Department of Finance and Administration). It requires the State Treasurer to annually check if any public funds, accounts, or trusts that receive interest from a pooled investment vehicle have had no activity other than receiving interest in the past year, and allows the Treasurer to stop interest allocation to such inactive accounts, potentially closing or consolidating them. The bill also allows for exceptions to investment rules if a state agency can justify why certain public money cannot earn interest or be held in a pooled investment vehicle, and mandates that state agencies review all their funds and accounts, both inside and outside the State Treasury, reporting specific details to the Treasurer. Finally, the Treasurer will compile this information and report it to legislative offices, with agencies needing to provide updated information periodically and facing potential disapproval of payments if they fail to comply.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (1)
Last Action
DR - TSDPAA: AC To AP (on 02/26/2026)
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/2026/pdf/history/SB/SB2471.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/SB/2400-2499/SB2471PS.htm |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/SB/2400-2499/SB2471IN.htm |
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