Bill > SB3036

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 repairs and renovations for ADA (Americans with Disabilities Act) compliance at Alcorn State University. The State Bond Commission, a body responsible for issuing state debt, will manage the sale of these bonds, which cannot exceed $4,540,000 and must be issued before July 1, 2030. The proceeds will be placed in a dedicated fund, the "2026 Alcorn State University ADA Compliance Improvements Fund," and used to make buildings and facilities at the university accessible to individuals with disabilities, with any remaining funds after project completion being used to pay off the bonds. The bill also specifies that these bonds will be exempt from state taxes and outlines the procedures for their issuance, sale, and validation, taking effect on July 1, 2026.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB3036.xml