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Senate Bill 2002

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Senate Bill 2002 MISSISSIPPI LEGISLATURE FIRST EXTRAORDINARY SESSION 2018 By: Senator(s) Gollott, Wiggins, To: Appropriations Moran, Watson, Carter, Seymour, Blackwell, Chassaniol, Dearing, DeBar, Fillingane, Hill, Jackson (11th), Jackson (32nd), Michel, Simmons (13th) SENATE BILL NO. 2002 1 AN ACT AMEND SECTION 27-103-302, MISSISSIPPI CODE OF 1972, TO 2 PROVIDE THAT FROM AND AFTER SEPTEMBER 1, 2018, ALL BP OIL SPILL 3 SETTLEMENT FUNDS RECEIVED BY THE STATE SHALL BE DEPOSITED INTO THE 4 STATE BP SETTLEMENT FUND AND THE GULF COAST RESTORATION FUND; TO 5 CREATE A SPECIAL FUND IN THE STATE TREASURY TO BE DESIGNATED AS 6 THE "STATE BP SETTLEMENT FUND"; TO CREATE A SPECIAL FUND IN THE 7 STATE TREASURY TO BE DESIGNATED AS THE "GULF COAST RESTORATION 8 FUND" (GCRF); TO PROVIDE THAT MONIES IN THE GCRF SHALL BE USED, 9 UPON APPROPRIATION BY THE LEGISLATURE, TO PROVIDE ASSISTANCE TO 10 APPLICANTS THROUGH PROGRAMS OR PROJECTS AUTHORIZED BY THIS ACT; TO 11 PROVIDE THAT MONIES IN THE GCRF SHALL BE USED ONLY FOR PROGRAMS OR 12 PROJECTS THAT ARE LOCATED IN THE GULF COAST REGION AS DEFINED IN 13 THE FEDERAL RESTORE ACT; TO CREATE THE GULF COAST RESTORATION FUND 14 ADVISORY BOARD TO PROVIDE ADVICE TO MDA WHEN REVIEWING 15 APPLICATIONS FOR ASSISTANCE UNDER THIS ACT; TO PROVIDE THAT THE 16 MISSISSIPPI DEVELOPMENT AUTHORITY (MDA) SHALL BE THE ADMINISTRATOR 17 OF THE GCRF; TO AUTHORIZE MDA TO CARRY OUT ANY POWERS AND DUTIES 18 AUTHORIZED IN THIS ACT AND PROVIDE THAT MDA SHALL HANDLE ALL OF 19 THE DAY-TO-DAY MATTERS RELATING TO THE GCRF; TO LIMIT THE AMOUNT 20 OF THE ANNUAL ADMINISTRATION EXPENSES OF MDA IN CARRYING OUT ITS 21 DUTIES UNDER THIS ACT; TO SPECIFY THE APPLICANTS WHO ARE ELIGIBLE 22 FOR ASSISTANCE UNDER THIS ACT; TO PROVIDE THAT MDA SHALL ESTABLISH 23 CRITERIA, RULES AND PROCEDURES FOR ACCEPTING AND REVIEWING 24 APPLICATIONS FOR ASSISTANCE UNDER THIS ACT; TO PROVIDE THAT MDA 25 SHALL REVIEW, COMPILE, AND SCORE ALL TIMELY RECEIVED APPLICATIONS 26 AND SHALL PRESENT THE APPLICATIONS AND ITS RECOMMENDATIONS FOR 27 ASSISTANCE TO INDIVIDUAL PROJECTS TO THE LEGISLATURE NO LATER THAN 28 DECEMBER 1 OF THE YEAR; TO PROVIDE THAT THE LEGISLATURE SHALL 29 DETERMINE INDIVIDUAL PROJECTS THAT WILL BE FUNDED BY SEPARATE LINE 30 ITEMS IN AN APPROPRIATION BILL; TO PROVIDE THAT APPLICATIONS FOR 31 ASSISTANCE WILL BE RECEIVED THROUGH WEB PORTALS SET UP BY MDA; TO 32 AUTHORIZE MDA TO ESTABLISH PROGRAMS FOR MAKING LOANS, LOAN 33 GUARANTEES, GRANTS AND ANY OTHER FINANCIAL ASSISTANCE TO 34 APPLICANTS WHOSE PROJECTS ARE APPROVED FOR ASSISTANCE; TO SPECIFY S. B. No. 2002 *SS26/R16.3* # deleted text version # N1/2 181E/SS26/R16.3 PAGE 1 (tb\rc) 35 THE APPLICANTS WHO ARE ELIGIBLE FOR ASSISTANCE UNDER THESE 36 PROGRAMS; TO PROVIDE THAT MDA SHALL ESTABLISH PROGRAMS AND AN 37 APPLICATION PROCESS TO PROVIDE ASSISTANCE TO APPLICANTS WHO 38 PRIORITIZE CERTAIN TYPES OF PROJECTS; TO PROVIDE THAT ASSISTANCE 39 PROVIDED UNDER THIS ACT MAY NOT BE USED TO FINANCE 100% OF THE 40 COST OF ANY PROJECT; TO PROVIDE THAT CONTRACTS EXECUTED BY MDA 41 WITH RECIPIENTS OF ASSISTANCE UNDER THIS ACT MUST INCLUDE 42 PROVISIONS REQUIRING A PERFORMANCE REPORT ON THE CONTRACTED 43 ACTIVITIES; TO PROVIDE FOR FINANCIAL AUDITS OF RECIPIENTS OF 44 ASSISTANCE UNDER THIS ACT AND PROVIDE FOR PERFORMANCE AUDITS OF 45 MDA'S ADMINISTRATION OF THE GCRF UNDER THIS ACT; TO REQUIRE MDA TO 46 FILE AN ANNUAL REPORT WITH CERTAIN LEGISLATIVE OFFICIALS AND LBO 47 THAT INCLUDES DETAILED INFORMATION REGARDING RECEIPTS AND 48 EXPENDITURES OF THE FUNDS RECEIVED AND PROVIDED AS ASSISTANCE 49 UNDER THIS ACT; TO REQUIRE THE STATE TREASURER TO TRANSFER A 50 CERTAIN AMOUNT OF FUNDS FROM THE BUDGET CONTINGENCY FUND TO THE 51 2018 TRANSPORTATION AND INFRASTRUCTURE IMPROVEMENTS FUND, 52 MISSISSIPPI HIGHWAY-RAILROAD GRADE CROSSING SAFETY ACCOUNT AND THE 53 MISSISSIPPI RAILROAD IMPROVEMENTS FUND; TO AMEND SECTION 9, HOUSE 54 BILL NO. 1, FIRST EXTRAORDINARY SESSION OF 2018, TO PROVIDE THAT 55 MONEY IN THE 2018 TRANSPORTATION AND INFRASTRUCTURE IMPROVEMENTS 56 FUND, SHALL BE DISBURSED, IN THE DISCRETION OF THE DEPARTMENT OF 57 FINANCE AND ADMINISTRATION, FOR CERTAIN PROJECTS; TO SPECIFY THE 58 PROJECTS FOR WHICH MONEY MAY BE DISBURSED; AND FOR RELATED 59 PURPOSES. 60 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 61 SECTION 1. Section 27-103-302, Mississippi Code of 1972, is 62 amended as follows: 63 27-103-302. Through August 31, 2018, all funds received by 64 or on behalf of the State of Mississippi through a negotiated 65 settlement for economic damages in connection with the explosion 66 on, and sinking of, the mobile offshore drilling unit Deepwater 67 Horizon, except for any funds that are required by the settlement 68 to be paid to any other public entity, shall be deposited into the 69 Budget Contingency Fund for appropriation by the Legislature. 70 From and after September 1, 2018, all funds received by or on 71 behalf of the State of Mississippi through a negotiated settlement 72 for economic damages in connection with the explosion on, and S. B. No. 2002 *SS26/R16.3* # deleted text version # 181E/SS26/R16.3 PAGE 2 (tb\rc) 73 sinking of, the mobile offshore drilling unit Deepwater Horizon, 74 except for any funds that are required by the settlement to be 75 paid to any other public entity, shall be deposited as follows: 76 (a) twenty-five percent (25%) of each annual payment of those 77 funds to the State of Mississippi shall be deposited into the 78 State BP Settlement Fund created in Section 2 of this act, and (b) 79 seventy-five percent (75%) of each annual payment of those funds 80 to the State of Mississippi shall be deposited into the Gulf Coast 81 Restoration Fund created in Section 3 of this act. 82 SECTION 2. There is created in the State Treasury a special 83 fund to be designated as the "State BP Settlement Fund." The 84 special fund shall consist of funds required to be deposited into 85 the special fund by Section 27-103-302, funds appropriated or 86 otherwise made available by the Legislature in any manner, and 87 funds from any other source designated for deposit into the 88 special fund. Unexpended amounts remaining in the special fund at 89 the end of a fiscal year shall not lapse into the State General 90 Fund but shall remain in the State BP Settlement Fund. Any 91 investment earnings or interest earned on amounts in the special 92 fund shall be deposited to the credit of the special fund. 93 SECTION 3. (1) There is created in the State Treasury a 94 special fund to be designated as the "Gulf Coast Restoration Fund" 95 (GCRF). The GCRF shall consist of funds required to be deposited 96 into the GCRF by Section 27-103-302, funds appropriated or 97 otherwise made available by the Legislature in any manner, and S. B. No. 2002 *SS26/R16.3* # deleted text version # 181E/SS26/R16.3 PAGE 3 (tb\rc) 98 funds from any other source designated for deposit into the GCRF. 99 Unexpended amounts remaining in the GCRF at the end of a fiscal 100 year shall not lapse into the State General Fund, and any 101 investment earnings or interest earned on amounts in the GCRF 102 shall be deposited to the credit of the GCRF. 103 (2) Monies in the GCRF shall be administered by the 104 Mississippi Development Authority (MDA), and shall be used, upon 105 appropriation by the Legislature, to provide assistance to 106 applicants through programs or projects authorized by this act. 107 Monies in the GCRF shall be used only for programs or projects 108 that are located in the Gulf Coast region as defined in the 109 federal RESTORE Act, but not to expand beyond the boundaries of 110 Hancock, Harrison, Jackson, Pearl River, Stone, and George 111 Counties. If a county is included in the coastal zone, then the 112 county seat of that county would be considered a part of the 113 coastal zone. 114 SECTION 4. (1) Monies in the Gulf Coast Restoration Fund 115 shall be used only for the purposes specified in this act, and no 116 other expenditure, appropriation or transfer of monies in the GCRF 117 shall be made except by an act of the Legislature making specific 118 reference to the GCRF as the source of those monies. 119 (2) If any monies in the GCRF are obligated or pledged as 120 security for any debt incurred by MDA, and the monies in the GCRF 121 that have been obligated or pledged are later expended, 122 appropriated, transferred, obligated or pledged for any other S. B. No. 2002 *SS26/R16.3* # deleted text version # 181E/SS26/R16.3 PAGE 4 (tb\rc) 123 purpose, the debt for which the monies were originally obligated 124 or pledged shall be the obligation and indebtedness of the State 125 of Mississippi secured by the full faith and credit of the state. 126 SECTION 5. (1) There is created the Gulf Coast Restoration 127 Fund Advisory Board for the purpose of providing guidance and 128 expertise to MDA when reviewing applications for assistance under 129 this act. The advisory board shall consist of the following seven 130 (7) members: 131 (a) Three (3) appointments from the Governor; 132 (b) Two (2) appointments from the Lieutenant Governor; 133 and 134 (c) Two (2) appointments from the Speaker of the House 135 of Representatives. 136 (2) The Governor shall appoint the chairman of the board and 137 the board shall elect such other officers as it considers 138 necessary from among its members.
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