***Pending***
AMENDMENT No. 1 PROPOSED TO
House Bill NO. 1424
By Representative(s) Moody
AMEND by deleting the language beginning with the word "Monies" on line 248 through the period on line 249 and inserting the following:
The principal of the trust fund shall remain inviolate and shall never be expended. Any interest earned on the principal may be expended solely for the benefits of clients served at Ellisville State School. The State Treasurer shall invest the monies of the trust fund in any of the investments authorized for the Mississippi Prepaid Affordable College Tuition Program under Section 37-155-9, and those investments shall be subject to the limitations prescribed by Section 37-155-9.
AMEND FURTHER by inserting the word "trust" before the word "fund" on lines 250, 251, 252, 263 and 264.
AMEND FURTHER on lines 253 and 254 by deleting the words "monies in the fund and/or interest from the fund," and inserting the words:
any interest earned on the principal of the trust fund,
AMEND FURTHER on line 259 by deleting the words "monies in the fund" and inserting the words:
interest earned on the principal of the trust fund
AMEND FURTHER the title on lines 7 and 8 by deleting the words "TO PROVIDE THAT MONIES IN THE FUND SHALL BE USED" and inserting the words:
TO PROVIDE THAT THE PRINCIPAL OF THE TRUST FUND SHALL REMAIN INVIOLATE AND SHALL NEVER BE EXPENDED, AND THAT ANY INTEREST EARNED ON THE PRINCIPAL MAY BE EXPENDED