Mississippi HB1582 exempts certain performance contracts from the 20-year payback requirement for community and junior colleges.
Mississippi HB1582 amends Section 31-7-14 of the Mississippi Code of 1972 to exclude certain performance contracts from the 20-year payback requirement for community and junior colleges. The bill allows for facilities performance contracts to extend beyond the 20-year payback period, up to the useful life of the improvements or services. It also includes provisions for energy efficiency services, procurement, and reporting requirements. The changes will be repealed on July 1, 2035.
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