Bill Text: MS HB1185 | 2018 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: BP oil spill settlement funds; bring forward section requiring deposit into the BCF.

Spectrum: Bipartisan Bill

Status: (Failed) 2018-03-26 - Died In Conference [HB1185 Detail]

Download: Mississippi-2018-HB1185-Introduced.html

MISSISSIPPI LEGISLATURE

2018 Regular Session

To: Appropriations

By: Representative DeLano

House Bill 1185

AN ACT TO AMEND SECTION 27-103-302, MISSISSIPPI CODE OF 1972, TO REVISE THE DEPOSIT INTO THE STATE TREASURY OF CERTAIN FUNDS RECEIVED BY OR ON BEHALF OF THE STATE OF MISSISSIPPI THROUGH A NEGOTIATED SETTLEMENT FOR ECONOMIC DAMAGES IN CONNECTION WITH THE DEEPWATER HORIZON OIL SPILL; AND FOR RELATED PURPOSES.  

     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

     SECTION 1.  Section 27-103-302, Mississippi Code of 1972, is amended as follows:

     27-103-302.  All funds received by or on behalf of the State of Mississippi through a negotiated settlement for economic damages in connection with the explosion on, and sinking of, the mobile offshore drilling unit Deepwater Horizon, except for any funds that are required by the settlement to be paid to any other public entity, shall be deposited * * *into the Budget Contingency Fund for appropriation by the Legislature as follows:  (a) twenty percent (20%) of those funds shall be deposited into the special funds for the planning and development districts created in Section 1 of House Bill No.   , 2018 Regular Session, and (b) eighty percent (80%) of those funds shall be deposited into the Gulf Coast Restoration Fund created in Section 1 of House Bill No.    , 2018 Regular Session.

     SECTION 2.  This act shall take effect and be in force from and after its passage.


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