MISSISSIPPI LEGISLATURE
2018 Regular Session
To: Appropriations
By: Representatives DeLano, Baria
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 * * * as follows: (a) twenty percent (20%) of those funds
shall be deposited into the special funds for the planning and development
districts created in Section 1 of House Bill No. , 2018 Regular Session, and
(b) eighty percent (80%) of those funds shall be deposited into the Gulf Coast
Restoration Fund created in Section 1 of House Bill No. , 2018 Regular
Session.
SECTION 2. This act shall take effect and be in force from and after its passage.