1997 Regular Session
To: Public Buildings, Grounds and Lands; Appropriations
By: Representative Endt
House Bill 302
AN ACT TO CREATE THE STATE AGENCIES' REPAIR AND RENOVATION FUND; TO REQUIRE EACH STATE AGENCY TO SET ASIDE A CERTAIN PERCENT OF ITS ANNUAL APPROPRIATIONS FOR REPAIR AND RENOVATION PROJECTS; TO PROVIDE THAT THE STATE TREASURER SHALL INVEST THE MONIES DEPOSITED INTO THE FUND; TO PROHIBIT THE ISSUANCE OF BONDS FOR AN AGENCY'S REPAIR AND RENOVATION PROJECTS UNTIL THE AGENCY HAS EXPENDED ALL MONIES CREDITED TO IT FOR SUCH PURPOSES IN THE SPECIAL FUND; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) There is established in the State Treasury a special fund to be designated as the "State Agencies' Repair and Renovation Fund" which shall consist of monies set aside by each state agency from its annual appropriations. The funds may be expended by the Bureau of Building, Grounds and Real Property Management for repair and renovation projects for an agency as authorized and appropriated by the Legislature.
(2) Beginning July 1, 1997, and on July 1 of each year thereafter, each state agency shall set aside one percent (1%) of its fiscal year appropriations until the agency has contributed to the special fund an amount equal to three percent (3%) of the average of its total annual appropriations. On July 1 of each fiscal year thereafter, the agency shall set aside for deposit in the special fund an amount from its appropriations that will be equal to the amount necessary to keep the total funds in the special fund credited to it at a level of three percent (3%) of its average annual appropriations during the immediately preceding three (3) fiscal years. However, the amount must not exceed one percent (1%) of the agency's appropriations for that fiscal year. The State Treasurer shall invest the monies set aside by the agency in the fund and shall credit interest and earnings to each agency in an amount proportionate to the agency's contributions to the fund.
(3) Expenses for state agencies' repair and renovation projects authorized by the Legislature and approved by the Bureau of Building, Grounds and Real Property Management shall be paid by warrants drawn on the State Agencies' Repair and Renovation Fund upon requisitions signed by the Director of the Bureau of Building, Grounds and Real Property Management. No bonding authority may be authorized by the Legislature for costs related to a state agency's repair and renovation projects until the agency has expended all of the monies credited to it in the State Agencies' Repair and Renovation Fund.
SECTION 2. The act shall take effect and be in force from and after July 1, 1997.