Mississippi House Bill HB1512

Mississippi 2022 Regular Session

• Introduced: 1/17/22
• Refer: 1/17/22
• Failed: 2/23/22

Caption

Bonds; authorize issuance for various Alcorn State University projects.

Impact

The passage of HB1512 will have significant implications for the funding and infrastructure of Alcorn State University, bolstering its facilities and potentially enhancing the educational experience for students. Through the creation of the '2022 Alcorn State University Improvements Fund,' the bill ensures that funds will be disbursed at the discretion of the Department of Finance and Administration, which is responsible for overseeing the use of the allocated funds. By improving infrastructure, it is anticipated that the university will better meet the educational needs of its student body and promote growth.

Summary

House Bill 1512 authorizes the issuance of state general obligation bonds aimed at funding various improvement projects at Alcorn State University. The total amount of bonds authorized under this bill is $27,105,500. These funds will be allocated towards critical renovations and expansions across multiple facilities within the university, which include the renovation of the David L. Whitney Arena Complex, upgrades to the Math and Science Building, and the establishment of a Hydroponics Research and Teaching Greenhouse, among other projects.

Contention

One notable point of contention that may arise surrounds the long-term financial implications and obligations of the state regarding these bonds. Given that these bonds are general obligations backed by the full faith and credit of the State of Mississippi, there could be debates on how future funding and financial responsibilities are handled, especially concerning how the state prioritizes education-related expenditures against other budgetary needs. Additionally, stakeholders may express differing opinions on the prioritization of funding for Alcorn State University compared to other educational institutions within the state.