MISSISSIPPI LEGISLATURE
2015 Regular Session
To: Finance
By: Senator(s) Fillingane, Frazier, Horhn, Jackson (11th), Jackson (32nd), Jordan, Butler (36th), Norwood
AN ACT TO CREATE THE MISSISSIPPI HISTORY TRUST FUND; TO AUTHORIZE THE MISSISSIPPI DEPARTMENT OF ARCHIVES AND HISTORY TO SOLICIT AND ACCEPT DONATIONS, BEQUESTS, DEVISES, GIFTS AND GRANTS OF MONEY FROM INDIVIDUALS, ORGANIZATIONS, AND CORPORATIONS TO BE DEPOSITED IN THE MISSISSIPPI HISTORY TRUST FUND; TO PROVIDE THAT FUNDS DEPOSITED IN SUCH TRUST FUND SHALL BE EXPENDED UPON APPROPRIATION BY THE LEGISLATURE, SOLELY FOR THE PURPOSE OF COLLECTING, PRESERVING, PROTECTING, RESEARCHING AND INTERPRETING THE STATE OF MISSISSIPPI'S HISTORIC RESOURCES AND FOR PROMOTING THE APPRECIATION OF THOSE RESOURCES; TO PROVIDE FOR THE INVESTMENT OF MONEY IN THE TRUST FUND; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) There is created in the State Treasury a special fund to be known as the "Mississippi History Trust Fund." The Mississippi Department of Archives and History may solicit and accept donations, bequests, devises, gifts and grants of money from individuals, organizations, and corporations to be deposited in the Mississippi History Trust Fund. All funds deposited in the Mississippi History Trust Fund shall be expended upon appropriation by the Legislature, solely for the purpose of collecting, preserving, protecting, researching and interpreting the State of Mississippi's historic resources and for promoting the appreciation of those resources.
(2) The State Treasurer shall invest the money in the trust fund in any of the investments authorized for the funds of the Public Employees' Retirement System under Section 25-11-121, and those investments shall be subject to the limitations prescribed by Section 25-11-121.
(3) Unexpended amounts remaining in the trust fund at the end of a fiscal year shall not lapse into the State General Fund, and any investment earnings on the unexpended amounts in the trust fund shall be deposited to the credit of the trust fund.
SECTION 2. This act shall take effect and be in force from and after July 1, 2015, and shall be repealed from and after June 30, 2015.