2004 Regular Session
By: Senator(s) Little, Gordon, Robertson, Burton, Hewes, Kirby, Flowers, Chamberlin, Brown, Michel, Carmichael, Nunnelee, Clarke, Mettetal, Morgan, White
AN ACT TO PROVIDE THAT INTEREST EARNED ON THE STATE HIGHWAY FUND MAINTAINED AND ADMINISTERED BY THE MISSISSIPPI DEPARTMENT OF TRANSPORTATION SHALL BE CREDITED TO THE STATE GENERAL FUND; TO AMEND SECTION 65-11-35, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Any interest earned on the State Highway Fund maintained and administered by the Mississippi Department of Transportation shall be credited by the State Treasurer to the State General Fund. The special fund account included in this provision is as follows:
FUND FUND NAME
3941 DEPT TRANSPORTATION-SUPPORT
SECTION 2. Section 65-11-35, Mississippi Code of 1972, is amended as follows:
65-11-35. All monies that shall be appropriated for the purposes of Sections 65-11-1 through 65-11-37 shall be paid into the State Highway Fund, as shall all other monies that shall be paid for said purposes as a result of any other law, state or federal, and all monies which shall accrue from any other source for such purposes. All expenditures of state funds contemplated by the aforesaid sections shall be made from such fund, and such monies shall be paid out by the State Highway Commission, acting through its director, in the manner and method now provided by law. Any interest earned on the State Highway Fund shall be credited by the State Treasurer to the State General Fund.
SECTION 3. This act shall take effect and be in force from and after July 1, 2004.