Mississippi House Bill 1508 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on March 24 2014 - 100% progression
Action: 2014-03-24 - Approved by Governor
Text: Latest bill text (Enrolled) [HTML]

An Act To Amend Chapter 910, Local And Private Laws Of 2013, To Include Capital Gains Within The Definition Of "income" For Purposes Of The Lowndes County Reserve And Trust Fund; To Make Clear That The Board Of Supervisors Of Lowndes County Is Not Required To Appoint An Advisory Committee For The Trust Fund; To Provide That The Board Of Trustees Of The Lowndes County Reserve And Trust Fund Shall Meet At Least Once Per Year; To Make Clear That The Meetings Of The Board Of Trustees Of The Trust Fund Are Governed By The Open Meetings Law; To Make It Clear That The Lowndes County Reserve And Trust Fund Is A Political Subdivision For Purposes Of The Tort Claims Law; To Authorize The Board Of Trustees Of The Trust Fund To Delegate Investment Authority To Investment Advisors; To Provide That Every Fiscal Year After The Fund Is Established The Income Component Shall Be Considered An Amount Equal To 3% Of The Amount Of The Full Fund Balance Calculated At The End Of Each Fiscal Year, Whether Or Not The Corpus Component Has Generated Any Income In That Fiscal Year And To Provide That All Remaining Portions Of The Annual Income Earned From The Investment Of The Fund Shall Remain In The Fund As A Part Of The Corpus Component; To Provide That The Board Of Trustees May Expend From The Corpus Component Amounts Required To Pay The Amounts Required In Connection With The Management By The Trustees Of The Fund If The Income Component Is Insufficient To Pay The Amounts Required In Connection With The Management By The Trustees Of The Fund; To Revise The Amount Of The Trust Fund That May Be Transferred To The County For Special Projects; To Provide That There Shall Be No Distribution Of The Income Component If The Full Fund Balance Of The Trust Fund Falls Below An Amount Equal To The Initial Deposit To The Trust Fund; And For Related Purposes.

Lowndes County; make various revisions to its reserve and trust fund.

Rep. Gary Chism [R]	Rep. Chris Brown [R]	Rep. Tyrone Ellis [D]	Rep. Esther Harrison [D]
Rep. Jeffrey Smith [R]

2014-03-11 - Senate - Senate Passed (Y: 51 N: 0 NV: 1 Abs: 0) [PASS]
2014-03-03 - House - House Passed (Y: 116 N: 0 NV: 6 Abs: 0) [PASS]

Date	Chamber	Action
2014-03-24		Approved by Governor
2014-03-17	Senate	Enrolled Bill Signed
2014-03-17	House	Enrolled Bill Signed
2014-03-12	Senate	Returned For Enrolling
2014-03-11	Senate	Passed
2014-03-10	Senate	Title Suff Do Pass
2014-03-06	Senate	Referred To Local and Private
2014-03-03	House	Transmitted To Senate
2014-03-03	House	Immediate Release
2014-03-03	House	Passed
2014-02-27	House	Title Suff Do Pass
2014-02-17	House	Referred To Local and Private Legislation

Type	Source
Summary	https://billstatus.ls.state.ms.us/2014/pdf/history/HB/HB1508.xml
Text	https://billstatus.ls.state.ms.us/documents/2014/html/HB/1500-1599/HB1508IN.htm
Text	https://billstatus.ls.state.ms.us/documents/2014/html/HB/1500-1599/HB1508PS.htm
Text	https://billstatus.ls.state.ms.us/documents/2014/html/HB/1500-1599/HB1508SG.htm
Roll Call	https://billstatus.ls.state.ms.us/2014/pdf/votes/house/0560005.pdf
Roll Call	https://billstatus.ls.state.ms.us/2014/pdf/votes/senate/0640012.pdf