Senate Bill 2366

AN ACT TO DIRECT THE STATE FISCAL OFFICER TO TRANSFER A CERTAIN SUM FROM THE CAPITAL EXPENSE FUND TO THE POINT CADET LEASING FUND TO REIMBURSE THE SUM INADVERTENTLY TRANSFERRED UNDER HOUSE BILL NO. 878, 2016 REGULAR SESSION; AND FOR RELATED PURPOSES.

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

SECTION 1. Section 1(1) of House Bill No. 878, 2016 Regular Session, Laws of 2016, Chapter 460, inadvertently listed Secretary of State Fund #3311800000 as one of the enumerated accounts from which the State Fiscal Officer was directed to transfer funds to the Capital Expense Fund, and pursuant thereto the State Fiscal Officer did transfer One Million Five Hundred Ninety-three Thousand Nine Hundred Seventy Dollars and Fifty-two Cents ($1,593,970.52) from Account #3311800000 to the Capital Expense Fund. The Point Cadet Leasing Fund is a fund established by contract between the Secretary of State, the Board of Trustees of State Institutions of Higher Learning, and the City of Biloxi, who are the joint landlords of certain real property in the City of Biloxi that is leased to tenants who pay monthly lease rental to Point Cadet Leasing Fund, which is disbursed by the Secretary of State to the three (3) landlords as provided in their agreement. The funds in the Point Cadet Leasing Fund are not state funds.

SECTION 2. During fiscal year 2017, the State Fiscal Officer shall transfer, as soon as reasonably possible, to the Point Cadet Leasing Fund, Secretary of State Account #3311800000, out of the Capital Expense Fund the sum of One Million Five Hundred Ninety-three Thousand Nine Hundred Seventy Dollars and Fifty-two Cents ($1,593,970.52, for immediate disbursement by the Secretary of State according to applicable contract between the Secretary of State, the Board of Trustees of State Institutions of Higher Learning and the City of Biloxi.

SECTION 3. This act shall take effect and be in force from and after its passage.