Senate Bill 2858

AN ACT TO CREATE NEW SECTION 29-15-24, MISSISSIPPI CODE OF 1972, TO ESTABLISH THE TIDELANDS TRANSPARENCY AND ACCOUNTABILITY ACT; TO REQUIRE THE SECRETARY OF STATE TO POST, ON THE FIRST BUSINESS DAY OF EACH MONTH, A TRANSPARENCY REPORT REGARDING THE PUBLIC TRUST TIDELANDS FUND AND THE PUBLIC TRUST TIDELANDS ASSESSMENTS FUND; TO PROVIDE WHAT SHALL BE INCLUDED IN THE MONTHLY REPORT; TO PROVIDE HOW THE MONTHLY REPORT SHALL BE MADE AVAILABLE TO THE PUBLIC; TO REQUIRE AN ANNUAL AUDIT OF EACH FUND; AND FOR RELATED PURPOSES.

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

SECTION 1. The following shall be codified as Section 29-15-24, Mississippi Code of 1972:

29-15-24. (1) This section shall be known and may be cited as the "Tidelands Transparency and Accountability Act."

(2) For the purposes of this section, "Tidelands Trust Funds" shall refer jointly to the "Public Trust Tidelands Fund" created in Section 29-15-9 and the "Public Trust Tidelands Fund" created in Section 29-15-10, which are both administered by the Secretary of State as trustee.

(3) The Secretary of State shall, on the first business day of each month, publish on the Secretary of State's website and by email to all requesting parties through the Secretary of State's email address, a transparency report regarding the Tidelands Trust Funds. Each transparency report shall be an accounting of all deposits and withdrawals to and from any accounts involving Tidelands Trust Funds made in the previous month and in the current fiscal year, including, but not limited to, the names of the payors of all deposits and names of payees of all withdrawals for all transactions.

(4) The Secretary of State shall maintain a working email mailing list that includes any person, company or agency that requests to be included on the list for receipt of the monthly transparency reports. The transparency reports shall be public records and shall be immediately available for inspection and copying at the Secretary of State's offices in Jackson and Gulfport, not be subject to the delays allowed for other public records, and shall be immediately available for mailing and emailing to persons, companies or agencies that request the reports, either on a regular monthly basis automatically mailed or emailed, or by individual request for a specific month or months.

(5) The transparency reports shall include, in each monthly publication, the following:

(a) A description of the purposes of all transactions and all withdrawals, including, but not limited to, all costs of administering the Tidelands Trust Funds and other tidelands matters performed by the Secretary of State;

(b) A cumulative listing of all the Public Trust Tidelands Leases and all Public Trust Tidelands Assessments to date, including, but not limited to, names and addresses of tenants of leases and entities paying assessments, monthly and annual rent amounts, monthly and annual assessment amounts, and maps showing locations of leased properties and properties paying assessments;

(c) A detailed narrative description of the procedures, appraisals and reasoning used in determining lease rental amounts and lease assessment amounts for each assessment;

(d) Copies of all contracts entered into each month by the Secretary of State or the Secretary of State on behalf of the State of Mississippi for professional services, consulting services, research studies, planning studies, appraisals, and any contracts for services that have not been entered into pursuant to a public bid process under state law.

(6) An independent auditor hired by the State Auditor and paid with funds from the Tidelands Trust Funds shall conduct an annual audit of all Tidelands Trust Funds. The annual audit of the Tidelands Trust Funds shall be filed with the State Auditor and the Mississippi Legislature and shall be posted on the Secretary of State's website. The annual audit shall be attached to the transparency report for the first month following the filing of each such audit with the State Auditor and the Mississippi Legislature.

(7) Tidelands Trust Funds may not be used to pay for any judgments against the Secretary of State or the State of Mississippi, or to pay any attorney's fees for representation of the Secretary of State or the State of Mississippi in litigation involving tidelands.

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