Mississippi House Bill 996 (Prior Session Legislation)

---

Completed Legislative Action
Sponsorship: Partisan Bill (Republican 1)
Status: Failed on March 6 2012 - 100% progression
Action: 2012-03-06 - Died In Committee
Text: Latest bill text (Introduced) [HTML]

An Act To Create The State Bank Of Mississippi For The Purpose Of Encouraging And Promoting Agriculture, Commerce And Industry In The State; To Provide That The Mississippi Development Authority Shall Operate, Manage And Control The State Bank; To Provide That The Business And Financial Transactions Of The State Bank May Include Anything That Any Bank Or Bank Holding Company Lawfully May Do; To Provide That The Governor Shall Appoint An Advisory Board Of Directors To The State Bank To Enlist The Help Of Private Enterprise And To Encourage More Active Use Of The Purposes For Which The State Bank Was Created; To Prescribe The Powers Of The Advisory Board Of Directors; To Provide That The Mississippi Development Authority Shall Appoint A President Of The State Bank And May Appoint And Employ Any Subordinate Officers, Employees, And Agents And Fix The Compensation Of Those Persons; To Provide That All State Funds And Funds Of All Educational Institutions Must Be Deposited In The State Bank; To Provide That All Deposits In The State Bank Are Guaranteed By The State; To Provide That Those Deposits Are Exempt From All State, County And Municipal Taxes; To Provide That The State Bank May Perform The Functions And Render The Services Of A Clearinghouse For Banks That Make The State Bank A Reserve Depositary; To Prescribe The Powers Of The State Bank; To Authorize The State Treasurer And The State Fiscal Officer To Issue On Behalf Of The State Evidences Of Indebtedness On The State General Fund When The Balance In The State General Fund Is Insufficient To Meet Legislative Appropriations; To Authorize The Mississippi Development Authority To Direct The State Bank To Make Loans To The State General Fund By The Purchase Of The Evidences Of Indebtedness; To Provide That The State Bank Shall Maintain A Revolving Loan Fund For The Purpose Of Making Or Participating In Loans To Mississippi Beginning Farmers For The Purchase Of Agricultural Real Estate, Equipment And Livestock; To Provide That The State Auditor Shall Contract With An Independent Certified Public Accounting Firm For An Annual Audit Of The State Bank, And The State Auditor Shall Audit Annually Or Contract For An Annual Audit Of The Separate Programs And Funds Administered By The State Bank; To Authorize The State Bank To Establish A System To Provide Fund Transfer Services To Its Customers And To The Customers Of State-chartered And Federally Chartered Banks Located Within The State Of Mississippi And To Other Financial Institutions Otherwise Authorized To Use The Services Of Electronic Fund Transfer Systems; To Provide That Certain Records Of The State Bank Are Confidential; To Provide That The State Bank Shall Replace The State Treasurer As The Custodian Of All Securities That Are Required To Be Deposited With The State Other Than Securities Resulting From The Investment Of Funds By The State Treasurer; To Establish The Health Information Technology Loan Fund As A Revolving Loan Fund In The State Bank For The Purpose Of Providing Loans To Health Care Providers To Purchase And Upgrade Electronic Health Record Technology, Train Personnel In Its Use, And Improve Security Of Information Exchange; To Establish The Health Information Technology Planning Loan Fund As A Revolving Loan Fund In The State Bank For The Purpose Of Providing Low-interest Loans To Health Care Entities To Assist Those Entities In Improving Health Information Technology Infrastructure; To Authorize The State Bank To Establish A Residential Mortgage Loan Program Under Which The Bank May Originate Residential Mortgages If Private Sector Mortgage Loan Services Are Not Reasonably Available; And For Related Purposes.

State Bank of Mississippi; create to promote agriculture, commerce and industry in the state.

Rep. William Denny [R]

Date	Chamber	Action
2012-03-06		Died In Committee
2012-02-20		Referred To Banking and Financial Services;Appropriations

Type	Source
Summary	https://billstatus.ls.state.ms.us/2012/pdf/history/HB/HB0996.xml
Text	https://billstatus.ls.state.ms.us/documents/2012/html/HB/0900-0999/HB0996IN.htm