House Bill 1244

AN ACT TO CREATE A NEW SECTION 31-25-6, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR FULL DISCLOSURE AND TRANSPARENCY IN THE ISSUANCE OF BONDS ON BEHALF OF A LOCAL GOVERNMENTAL UNIT, BY THE MISSISSIPPI DEVELOPMENT BANK; TO REQUIRE THE GOVERNING AUTHORITY OF A LOCAL GOVERNMENTAL ENTITY TO FILE A BOND FINANCING REVIEW FORM WITH THE STATE AUDITOR'S OFFICE BEFORE BONDS MAY BE ISSUED BY THE MISSISSIPPI DEVELOPMENT BANK ON BEHALF OF THE LOCAL GOVERNMENTAL UNIT; TO SET FORTH THE INFORMATION THAT MUST BE CONTAINED IN SUCH A BOND FINANCING REVIEW FORM; TO REQUIRE THE LOCAL GOVERNMENTAL UNIT TO OBTAIN PROFESSIONAL ADVICE IN PREPARING THE BOND FINANCING REVIEW FORM; TO REQUIRE SUCH LOCAL GOVERNMENTAL UNITS TO FILE WITH THE STATE AUDITOR CERTAIN REPORTS PERTAINING TO ALL BOND ISSUES THAT THE MISSISSIPPI DEVELOPMENT BANK HAS ISSUED ON ITS BEHALF; TO REQUIRE THE STATE AUDITOR TO MAINTAIN SUCH REPORTS; TO IMPOSE A PENALTY FOR THE FAILURE TO MAKE SUCH REPORTS; TO AMEND SECTIONS 31-25-5, 31-25-20, 31-25-21, 31-25-23, 31-25-27, 31-25-28 AND 31-25-35, MISSISSIPPI CODE OF 1972, IN CONFORMITY TO THE PROVISIONS OF THIS ACT; TO BRING FORWARD SECTIONS 31-25-31, 31-25-33 AND 31-25-37, MISSISSIPPI CODE OF 1972, WHICH RELATE TO THE ISSUANCE OF BONDS BY THE MISSISSIPPI DEVELOPMENT BANK, FOR PURPOSES OF AMENDMENT; AND FOR RELATED PURPOSES.

In the House of Representatives

• Jessica Upshaw

  Sponsor

l9n doesn't hold this bill's text yet.

In the House of Representatives Feb 20 – Mar 6

1. Feb 20Referred to the House committees on S.C. Accountblty/Efficiency/Transparency and on Ways and Means
2. Mar 6Died in committee in the House