Mississippi Dam Safety Fund

Mississippi Dam Safety Fund A. Section 19 of H.B. 1730, Mississippi Regular Session of 2020, created in the State Treasury a special fund to be designated as the "Mississippi Dam Safety Fund," which shall consist of funds made available by the Legislature in any manner and funds from any other source designated for deposit into such fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any investment earnings or interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be used to make grants for the purposes provided hereafter. B. Monies in the fund may be used to reimburse reasonable actual and necessary costs incurred by the department for the administration of the grant program. An accounting of actual costs incurred for which reimbursement is sought shall be maintained by the department. Reimbursement of reasonable actual and necessary costs shall not exceed three percent (3%) of the proceeds of bonds issued. Reimbursements shall satisfy any applicable federal tax law requirements.