Mississippi Senate Bill SB2069

Mississippi 2022 Regular Session

• Introduced: 1/6/22
• Refer: 1/6/22
• Failed: 2/23/22

Caption

Bonds; authorize issuance for Phase II of construction of a new headquarters building for the Department of Public Safety.

Impact

The bill has significant implications for state financial management, including the establishment of a special fund designated as the 2022 Department of Public Safety Headquarters Building Construction Fund. This fund will exist separately from the general fund, ensuring that unexpended amounts do not lapse into the state's general revenue. Furthermore, any investment earnings from the fund will also be directed towards project costs, maximizing the utility of taxpayer money. Such measures reinforce fiscal responsibility in state government dealings.

Summary

Senate Bill 2069 is legislation that authorizes the issuance of state general obligation bonds for funding the Phase II construction, furnishing, and equipping of a new headquarters building for the Department of Public Safety in Mississippi. The bill outlines the financial structure of these bonds, allowing for up to $32 million to be issued to support this project. The Department of Finance and Administration has discretion over the disbursement of funds, which must be allocated exclusively to the stated project.

Contention

Opposition or points of contention regarding SB2069 may arise from concerns relating to state fiscal priorities and responsibilities. Critics could question the necessity of this expenditure given the broader budgetary constraints or other pressing community needs. The state bond commission's governance and the potential for increased debt obligations may also be subjects of debate among lawmakers, emphasizing the balance between public safety needs and responsible financial management.