MISSISSIPPI LEGISLATURE

2017 Regular Session

To: Appropriations

By: Representative DeLano

House Bill 1140

AN ACT TO AMEND SECTION 27-103-302, MISSISSIPPI CODE OF 1972, TO REVISE THE DEPOSIT INTO THE STATE TREASURY OF CERTAIN FUNDS RECEIVED BY OR ON BEHALF OF THE STATE OF MISSISSIPPI THROUGH A NEGOTIATED SETTLEMENT FOR ECONOMIC DAMAGES IN CONNECTION WITH THE DEEPWATER HORIZON OIL SPILL; AND FOR RELATED PURPOSES.  

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

     SECTION 1.  Section 27-103-302, Mississippi Code of 1972, is amended as follows:

     27-103-302.  All funds received by or on behalf of the State of Mississippi through a negotiated settlement for economic damages in connection with the explosion on, and sinking of, the mobile offshore drilling unit Deepwater Horizon, except for any funds that are required by the settlement to be paid to any other public entity, shall be deposited * * *into the Budget Contingency Fund for appropriation by the Legislature as follows:  (a) twenty percent (20%) of such funds shall be deposited into the Budget Contingency Fund for appropriation by the Legislature and (b) eighty percent (80%) of such funds shall be deposited into the Gulf Coast Restoration Fund created in House Bill No. 1140, 2017 Regular Session, for appropriation by the Legislature.

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

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