Senate Bill 2638

AN ACT TO CREATE A PUBLIC BODY CORPORATE AND POLITIC TO BE DESIGNATED AS THE MISSISSIPPI COASTAL STRATEGIC INVESTMENT TRUST AND COASTAL STRATEGIC INVESTMENT FUND; TO PROVIDE THAT 80% OF ALL FUNDS RECEIVED AND TO BE RECEIVED BY THE STATE FROM THE BP ECONOMIC DAMAGES SETTLEMENT AGREEMENT, EXCEPT FOR THE AMOUNTS APPROPRIATED IN SENATE BILL NO. 2924, 2016 REGULAR SESSION, BE ASSIGNED TO THE MISSISSIPPI COASTAL STRATEGIC INVESTMENT FUND; TO PROVIDE FOR A BOARD OF TRUSTEES TO SERVE AS THE GOVERNING BODY OF THE COASTAL STRATEGIC INVESTMENT FUND; TO PROVIDE FOR THE COMPOSITION AND POWERS OF THE BOARD OF TRUSTEES; TO REQUIRE THAT THE BOARD OF TRUSTEES ESTABLISH CRITERIA AND RULES FOR APPLICATION FOR AND INVESTMENT OF FUNDS FOR ECONOMIC DEVELOPMENT PROJECTS OF REGIONAL SIGNIFICANCE TO CREATE NEW PERMANENT JOBS AND EXPANSION OF SALES AND INCOME TAX RECEIPTS FOR THE STATE TREASURY AND SALES AND PROPERTY TAX RECEIPTS FOR MUNICIPALITIES, COUNTIES AND SCHOOL DISTRICTS; TO PROVIDE THAT THE BOARD OF TRUSTEES MAY CONTRACT WITH A PRIVATE OR NONPROFIT ENTITY PURSUANT TO AN RFP FOR CERTAIN ADMINISTRATIVE SERVICES TO EVALUATE APPLICATIONS FROM LOCAL GOVERNMENTS, PUBLIC-PRIVATE PARTNERSHIPS AND BUSINESSES FOR PROJECTS THAT MAY BE FUNDED BY THE TRUST AND TO PROVIDE PROJECT MANAGEMENT FOR THE TRUST ACCORDING TO CRITERIA AND RULES ESTABLISHED BY THE BOARD OF TRUSTEES; TO AUTHORIZE THE TRUST TO EXECUTE CONTRACTS, LEASES, MORTGAGE OR PLEDGE PROPERTY AND ISSUE BONDS UNDER CERTAIN CONDITIONS, SECURED BY REVENUES THE TRUST MAY RECEIVE; TO PROVIDE FOR A COASTAL STRATEGIC INVESTMENT ADVISORY BOARD; AND FOR RELATED PURPOSES.

In the Senate

• Michael Watson

  Sponsor

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

In the Senate Jan 15 – Jan 30

1. Jan 15Referred to the Senate committee on Appropriations
2. Jan 30Died in committee in the Senate