Bill > SB3100

This bill appropriates funds for the State of Mississippi to pay for debt service, which includes paying banks for their services in managing the state's "full faith and credit bonds" (bonds backed by the full taxing power of the state) and their associated interest, as well as paying off maturing bonds and interest. Specifically, it allocates over $371 million from the General Fund for these purposes until the bonds are paid or June 30, 2027, whichever comes first, and also covers payments due in Fiscal Year 2027. Additionally, it appropriates over $51 million from special funds and bond proceeds for Fiscal Year 2027 debt payments and authorizes the expenditure of over $41 million from similar funds for revenue bonds maturing in Fiscal Year 2027. The bill also allows the State Treasurer to accept and spend excess funds from interest earnings on bond proceeds or loan repayments, and designates $500,000 of the General Fund appropriation specifically for bank service charges, requiring itemized statements for these charges. The act takes effect on July 1, 2026.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB3100.xml