Bill Text: MS HB1253 | 2016 | Regular Session | Introduced
Bill Title: Secretary of State; authorize to establish the "Regulation and Enforcement Fund" and "Securities Enforcement Act and Regulation of Charitable Solicitations Act" funds.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2016-02-23 - Died In Committee [HB1253 Detail]
Download: Mississippi-2016-HB1253-Introduced.html
MISSISSIPPI LEGISLATURE
2016 Regular Session
To: Judiciary A
By: Representative Barker
House Bill 1253
AN ACT TO CREATE THE "REGULATION AND ENFORCEMENT FUND" AND THE "SECURITIES ENFORCEMENT ACT AND REGULATION OF CHARITABLE SOLICITATIONS ACT" FUND; TO DESCRIBE THE MONIES REQUIRED TO BE DEPOSITED INTO THE FUNDS AND TO PROVIDE THE EXPENDITURES ALLOWED WITH THE SPECIAL FUNDS MONIES; TO PROVIDE FOR THE USE OF UNEXPENDED FUNDS; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) There is created in the State Treasury a special fund, to be designated as the "Regulation and Enforcement Fund" to the credit of the Secretary of State, which shall be compromised of the proceeds and revenues from registrations, fines, awards or settlements received from administrative or court actions involving the regulation and enforcement of the Pre-need Cemetery and Funeral Registration Act, the Cemetery Law, the Uniform Athlete Agents Act, the Scrap Metal Dealer Act and any other funds that the Legislature may be provide for the fund.
(2) The Secretary of State shall expend the monies in the fund to regulate and enforce the Pre-need Cemetery and Funeral Registration Act, the Cemetery Law, the Uniform Athlete Agents Act and the Scrap Metal Dealer Act.
(3) Unexpended monies remaining in the Regulation and Enforcement Fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on monies in the Regulation and Enforcement Fund shall be deposited to the credit of the Regulation and Enforcement Fund.
SECTION 2. (1) There is created in the State Treasury a special fund, to be designated as the "Securities Enforcement Act and Regulation of Charitable Solicitations Act Fund" to the credit of the Secretary of State, which shall be compromised of the proceeds and revenues from fines, awards or settlements received by administrative or court actions involving the regulation and enforcement of the Mississippi Securities Act and the Regulation of Charitable Solicitations Act, and any other funds that the Legislature may provide for the fund.
(2) The Secretary of State shall expend the monies in the fund to regulate and enforce the Mississippi Securities Act and the Regulation of Charitable Solicitations Act.
(3) Unexpended amounts remaining in the Securities Enforcement Act and Regulation of Charitable Solicitations Act 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 Securities Enforcement Act and Regulation of Charitable Solicitations Act Fund shall be deposited to the credit of the Securities Enforcement Act and Regulation of Charitable Solicitations Act Fund.
SECTION 3. This act shall take effect and be in force from and after July 1, 2016.
