Mississippi HB1652 requires the return of unexpended local improvement project funds and earned interest to the Capital Expense Fund.
Mississippi HB1652 mandates that any unexpended funds from local improvement projects and the interest earned on those funds must be returned to the Capital Expense Fund. The bill outlines a procedure for withholding a certain percentage of payments and allocations to municipalities or counties under Section 27-65-75 to recover funds owed to the Capital Expense Fund. It also amends sections 27-65-75, 27-104-371, 27-104-373, and 27-104-375 of the Mississippi Code to conform to these provisions.
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