Bill Text: MS SB2603 | 2017 | Regular Session | Introduced
Bill Title: "Deepwater Horizon Oil Disaster Fund"; all funds received by state shall be appropriated for state and county road maintenance.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2017-01-31 - Died In Committee [SB2603 Detail]
Download: Mississippi-2017-SB2603-Introduced.html
MISSISSIPPI LEGISLATURE
2017 Regular Session
To: Appropriations
By: Senator(s) Jolly
Senate Bill 2603
AN ACT TO AMEND SECTION 27-103-302, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT ALL FUNDS RECEIVED BY THE STATE OF MISSISSIPPI THROUGH A NEGOTIATED SETTLEMENT OR RECOVERY FOR DAMAGES IN CONNECTION WITH THE DEEPWATER HORIZON OIL SPILL SHALL BE DEPOSITED INTO A SPECIAL FUND CALLED THE "DEEPWATER HORIZON OIL DISASTER FUND" TO BE APPROPRIATED BY THE LEGISLATURE FOR STATE AND COUNTY HIGHWAY MAINTENANCE; 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 or recovery for economic and punitive 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 * * * a special fund
hereby created in the State Treasury to be called the Deepwater Horizon Oil
Disaster Fund for appropriation by the Legislature * * * to the Mississippi Department of
Transportation as follows:
(a) Fifty percent (50%) for the maintenance of roads of greatest need in the state highway system, as determined by the Mississippi Transportation Commission; and
(b) Fifty percent (50%) to be transferred to the counties for the maintenance of roads in the county highway system by the Mississippi Transportation Commission, with each county to receive an equal amount annually.
SECTION 2. This act shall take effect and be in force from and after its passage.
