2002 Regular Session
To: Judiciary A
By: Representative Reeves
AN ACT TO AMEND SECTION 43-19-55, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT INTEREST EARNED ON FEDERAL INCENTIVE FUNDS RELATED TO CHILD SUPPORT COLLECTIONS SHALL BE DEPOSITED IN THE GENERAL FUND; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 43-19-55, Mississippi Code of 1972, is amended as follows:
43-19-55. The State Department of Public Welfare shall be authorized in maintaining separate accounts with Mississippi banks to handle funds received as incentives from the federal government earned as a result of collecting support and also any funds maintained on deposit as a result of federal and state income tax offsets, and to aggressively manage the float in these accounts so as to accrue maximum interest advantage of the funds in the account * * *. All earned interest on these funds shall be deposited in the State General Fund.
SECTION 2. This act shall take effect and be in force from and after its passage.