Bill Amendment: MS HB354 | 2018 | Regular Session
Bill Title: General fund revenue; provide that percent of growth in will be used for repair and maintenance of state and local roads.
Status: 2018-03-28 - Died In Conference [HB354 Detail]
Download: Mississippi-2018-HB354-Senate_Committee_Amendment_No_1.html
Pending
COMMITTEE AMENDMENT NO 1 PROPOSED TO
House Bill No. 354
BY: Committee
PROPOSED
Amend by striking all after the enacting clause and inserting in lieu thereof the following:
SECTION 1. Through fiscal year 2023, if the official sine die general fund revenue estimate for the next fiscal year reflects a growth in general fund revenue of more than two percent (2%) above the general fund revenue estimate adopted for the current fiscal year, as certified by the Legislative Budget Office, fifty percent (50%) of the amount of the growth in revenue above two percent (2%), not to exceed One Hundred Million Dollars ($100,000,000.00), shall be deposited into the following special funds in the State Treasury:
(a) An amount not to exceed Twenty Million Dollars ($20,000,000.00) shall be deposited into the Local System Bridge Replacement and Rehabilitation Fund created under Section 65-37-13;
(b) An amount equal to fifty percent (50%) of the remainder of the revenue subject to this section shall be deposited into the Strategic Infrastructure Investment Fund created in Section 2 of this act; and
(c) An amount equal to fifty percent (50%) of the remainder of the revenue subject to this section shall be deposited into the Economic Development and Emergency Bridge Repair Fund created in Section 3 of this act.
SECTION 2. (1) There is created in the State Treasury a special fund to be known as the "Strategic Infrastructure Investment Fund," into which shall be deposited money appropriated by the Legislature or otherwise made available in any manner, and funds from any other source designated for deposit into such fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund and any interest earned or investment earnings on amounts in the fund shall be deposited into the fund. The fund shall be administered by the Mississippi Development Authority; however, the expenditure of money deposited into the fund shall be under the direction of the Governor, and such funds shall be paid by the Mississippi Development Authority upon warrants issued by the Department of Finance and Administration.
(2) Money in the fund shall be utilized by the Governor upon appropriation by the Legislature to provide funding for long-term strategic infrastructure investments and may be utilized by the Governor to meet any federal matching fund requirements related to infrastructure projects within this state.
SECTION 3. (1) There is created in the State Treasury a special fund to be known as the "Economic Development and Emergency Bridge Repair Fund," into which shall be deposited money appropriated by the Legislature or otherwise made available in any manner, and funds from any other source designated for deposit into such fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund and any interest earned or investment earnings on amounts in the fund shall be deposited into the fund. The expenditure of money deposited into the fund shall be under the direction of the Governor, and such funds shall be paid by the State Treasurer upon warrants issued by the Department of Finance and Administration.
(2) Upon appropriation by the Legislature, money in the fund shall be utilized by the Governor, with the advice of the Economic Development and Emergency Bridge Repair Fund Advisory Board, to provide funding for emergency bridge repairs on public roads, streets and highways in this state and to promote economic development; however, projects for emergency bridge repairs on public roads shall be selected from a list of projects developed by the State Aid Engineer.
(3) (a) There is created the Economic Development and Emergency Bridge Repair Fund Advisory Board which shall consist of the following members:
(i) The President and Chief Executive Officer of the Mississippi Economic Council;
(ii) The President and Chief Executive Officer of the Mississippi Manufacturers Association;
(iii) The President of the Mississippi Farm Bureau Federation;
(iv) The President of the Mississippi Poultry Association;
(v) The President of the Mississippi Trucking Association;
(vi) The Executive Director of the Mississippi Association of Supervisors; and
(vii) The Executive Director of the Mississippi Municipal League.
(b) The Governor shall appoint the chairman of the committee and the committee shall elect such other officers as it considers necessary from among its members.
(c) A majority of the members of the committee shall constitute a quorum for the conduct of meetings and all actions of the committee shall be by a majority vote. No compensation, per diem or mileage expense shall be provided committee members.
(d) The Governor's office shall provide any necessary administrative support to the committee.
(e) The committee shall meet, subject to call by the Governor, at least quarterly to conduct business.
(f) The committee shall provide nonbinding advice to the Governor regarding the expenditure of money in the Economic Development and Emergency Bridge Repair Fund.
SECTION 4. This act shall take effect and be in force from and after July 1, 2018, and shall be repealed from and after June 30, 2018.
Further, amend by striking the title in its entirety and inserting in lieu thereof the following:
AN ACT TO PROVIDE THAT THROUGH FISCAL YEAR 2023, IF THE OFFICIAL SINE DIE GENERAL FUND REVENUE ESTIMATE FOR THE NEXT FISCAL YEAR REFLECTS A GROWTH IN GENERAL FUND REVENUE OF MORE THAN TWO PERCENT ABOVE THE GENERAL FUND REVENUE ESTIMATE ADOPTED FOR THE CURRENT FISCAL YEAR, AS CERTIFIED BY THE LEGISLATIVE BUDGET OFFICE, 50% OF THE AMOUNT OF THE GROWTH IN REVENUE ABOVE TWO PERCENT, NOT TO EXCEED $100,000,000.00, SHALL BE DEPOSITED IN CERTAIN AMOUNTS INTO THE LOCAL SYSTEM BRIDGE REPLACEMENT AND REHABILITATION FUND AND THE STRATEGIC INFRASTRUCTURE INVESTMENT FUND AND ECONOMIC DEVELOPMENT AND EMERGENCY BRIDGE REPAIR FUND; TO CREATE IN THE STATE TREASURY A SPECIAL FUND TO BE KNOWN AS THE "STRATEGIC INFRASTRUCTURE INVESTMENT FUND"; TO PROVIDE THAT MONEY IN THE FUND SHALL BE UTILIZED BY THE GOVERNOR TO PROVIDE FUNDING FOR LONG-TERM STRATEGIC INFRASTRUCTURE INVESTMENTS AND MAY BE UTILIZED BY THE GOVERNOR TO MEET ANY FEDERAL MATCHING FUND REQUIREMENTS RELATED TO INFRASTRUCTURE PROJECTS WITHIN THIS STATE; TO CREATE IN THE STATE TREASURY A SPECIAL FUND TO BE KNOWN AS THE "ECONOMIC DEVELOPMENT AND EMERGENCY BRIDGE REPAIR FUND"; TO PROVIDE THAT MONEY IN SUCH FUND UTILIZED BY THE GOVERNOR, WITH THE ADVICE OF THE ADVISORY BOARD CREATED BY THIS SECTION, TO PROVIDE FUNDING FOR EMERGENCY BRIDGE REPAIRS ON PUBLIC ROADS, STREETS AND HIGHWAYS IN THIS STATE AND TO PROMOTE ECONOMIC DEVELOPMENT; AND FOR RELATED PURPOSES.
