Mississippi Senate Bill SB2527

Mississippi 2022 Regular Session

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

Caption

USM Gulf Park property; authorize DFA to sell or lease certain parcel in Harrison County.

Impact

Upon enactment, SB2527 would allow for the sale or lease of specified property while ensuring that the State of Mississippi retains all mineral rights associated with the property. This provision safeguards the state's interests, enabling future income from mineral extraction while allowing the university to utilize the proceeds of any sale or lease for its Gulf Park Campus. The bill delineates that any transaction must reflect the fair market value as determined by professional appraisals, thus ensuring transparency and equity in deals.

Summary

Senate Bill 2527 is geared towards the Department of Finance and Administration's authority to manage certain state-owned real property associated with the University of Southern Mississippi located in Harrison County. The bill outlines the terms under which this property may be sold or leased, emphasizing the need to secure the highest and best use for the university and the state. This initiative signifies a move towards optimizing the use of state assets for educational institutions, enabling potential financial benefits through property transactions.

Contention

While the bill is primarily aimed at facilitating property transactions, it could spark discussions regarding the prioritization of university needs versus state resource management. Critics may argue that allowing extensive authority over property management to the Department of Finance and Administration could lead to broader implications on how state assets are utilized. Advocates for transparency in government operations might express concern over potential mismanagement or undervaluation of assets, stressing the importance of oversight mechanisms in reviewing such transactions.