MISSISSIPPI LEGISLATURE

2013 Regular Session

To: Transportation; Appropriations

By: Representative Johnson

House Bill 825

AN ACT TO AMEND SECTION 65-1-111, MISSISSIPPI CODE OF 1972, TO PROHIBIT THE TRANSFER OF MONIES IN THE STATE HIGHWAY FUND OR IN ANY OTHER SPECIAL FUND IN THE STATE TREASURY TO THE CREDIT OF THE MISSISSIPPI DEPARTMENT OF TRANSPORTATION FROM THE SPECIAL FUND TO WHICH THE MONIES ARE CREDITED TO ANY OTHER FUND THAT IS NOT TO THE CREDIT OF THE DEPARTMENT, UNLESS THIS SECTION IS FIRST AMENDED BY A BILL ENACTED BY THE LEGISLATURE WITH A VOTE OF NOT LESS THAN TWO-THIRDS OF THE MEMBERS OF EACH HOUSE PRESENT AND VOTING; AND FOR RELATED PURPOSES.

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

     SECTION 1.  Section 65-1-111, Mississippi Code of 1972, is amended as follows:

     65-1-111.  (1)  All monies from any source provided by law shall be covered and paid into the State Treasury as other public funds are paid, and it shall be the duty of the Department of Finance and Administration to advise the Mississippi Transportation Commission of the amount of money allotted to the commission on hand from time to time.  It shall be the duty of the Department of Finance and Administration to place and allocate those funds so covered into the State Treasury in the State Highway Fund.  The interest earned on the investment of any highway funds shall be paid into the State Highway Fund, except as otherwise provided in Section 15 of * * * this actLaws of 2004, Chapter 595.

     (2)  If any highway bonds or notes are issued, the Transportation Commission * * * willshall adopt a resolution requesting the Bond Commission to issue such bonds or notes as may be authorized, and a "bond and interest sinking fund" and "note fund" shall be kept separate from the Highway Fund by the State Treasurer pursuant to the bond resolution adopted by the State * * * of MississippiBond Commission.

     (3)  The monies in the State Highway Fund or in any other special fund in the State Treasury to the credit of the Mississippi Department of Transportation shall not be transferred from the special fund to which the monies are credited to any other fund that is not to the credit of the Mississippi Department of Transportation, unless this section is first amended by a bill enacted by the Legislature with a vote of not less than two-thirds (2/3) of the members of each house present and voting.

     SECTION 2.  This act shall take effect and be in force from and after its passage.