Senate Bill 2050

AN ACT TO AMEND SECTION 7-3-91, MISSISSIPPI CODE OF 1972, TO TRANSFER THE ADMINISTRATION OF THE SECRETARY OF STATE LAND IMPROVEMENT FUND TO THE DEPARTMENT OF FINANCE AND ADMINISTRATION AND RENAME THE FUND AS THE LAND IMPROVEMENT FUND; TO REVISE THE PURPOSE OF THE FUND; TO DIRECT THE STATE TREASURER TO TRANSFER A CERTAIN SUM FROM THE CAPITAL EXPENSE FUND TO THE LAND IMPROVEMENT FUND; TO CREATE "THE LIFT AT THE MISSISSIPPI CHILDREN'S MUSEUM FUND" WITHIN THE STATE TREASURY AND DIRECT THE STATE TREASURER TO TRANSFER FUNDS FROM THE CAPITAL EXPENSE FUND TO THE FUND; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Section 7-3-91, Mississippi Code of 1972, is amended as follows:

7-3-91. A special fund, to be designated as the " * * * ~~Secretary of State~~ Land Improvement Fund," is created within the State Treasury. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Monies in the fund shall be disbursed by the * * * Department of Finance and Administration, upon appropriation by the Legislature, as a grant for use for the * * * purpose of improving the LeFleur's Bluff State Park property in accordance with the master plan of the LeFleur's Bluff Conservancy. The fund shall consist of any monies designated for deposit therein from any source. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited into such fund. * * * ~~Monies in the fund shall be disbursed, upon appropriation by the Legislature, in the discretion of the Secretary of State, to provide grants for the purposes described in this section.~~

SECTION 2. Upon the effective date of this act, the State Treasurer, in conjunction with the State Fiscal Officer, shall transfer the sum of Thirteen Million Dollars ($13,000,000.00) from the Capital Expense Fund (Fund No. 6499C00000) to the Land Improvement Fund created in Section 7-3-91, Mississippi Code of 1972.

SECTION 3. A special fund, to be designated as "The LIFT at the Mississippi Children's Museum Fund," is created within the State Treasury. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Monies in the fund shall be disbursed by the Department of Finance and Administration, upon appropriation by the Legislature, to assist in paying costs associated with the construction and development of and upgrades and improvements to the Mississippi Children's Museum in Jackson, Mississippi, for the purpose of a center to support students and educators through workforce development training statewide. The fund shall consist of any monies designated for deposit therein from any source. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited into such fund.

SECTION 4. Upon the effective date of this act, the State Treasurer, in conjunction with the State Fiscal Officer, shall transfer the sum of Five Million Dollars ($5,000,000.00) from the Capital Expense Fund (Fund No. 6499C00000) to The LIFT at the Mississippi Children's Museum Fund created in Section 3 of this act.

SECTION 5. This act shall take effect and be in force from and after its passage.