Bill > SB2875

This bill, titled the Federal Funding Transparency Act, amends existing Mississippi law to require state agencies, departments, and institutions to provide a more detailed annual report on all sources of revenue, including state and federal funds, collected in the most recent fiscal year. This report, which will be publicly accessible on the Legislature's website, must include specific information for each tax, fine, or fee assessed, such as the amount assessed and collected, the authorizing code or regulation, how assessments are determined, collection methods, how funds were spent, and any transfers to the general fund or other entities, including nonprofit organizations and public-private partnerships. Additionally, the report must detail the fiscal year-end balance of funds generated by fines and fees, list nonprofit corporations receiving subgrants or contracts, and for federal funds, specify the source at a granular level and describe promised actions or results. A significant addition is the requirement for a summary of any Maintenance of Effort (MOE) agreements, Memoranda of Understanding (MOU), consent decrees, or contracts with federal agencies, including details on the administering federal entity, program names and grant numbers, renewal expectations, statutory authorization, alignment with strategic plans, internet links to the agreements, and a description of all imposed obligations, such as monetary matching requirements, policy changes, and staffing needs. The bill also introduces a personal civil penalty of up to $100 per day, plus attorney's fees and costs, for agency heads or directors who fail to submit this report annually, with sovereign immunity not serving as a defense. These new reporting requirements will begin with the 2027 budget request submission.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB2875.xml