Bill Text: MS SB2261 | 2015 | 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) 2015-02-03 - Died In Committee [SB2261 Detail]
Download: Mississippi-2015-SB2261-Introduced.html
MISSISSIPPI LEGISLATURE
2015 Regular Session
To: Appropriations
By: Senator(s) Jolly
Senate Bill 2261
AN ACT TO AMEND SECTION 1 OF CHAPTER 558, LAWS OF 2012, 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 1 of Chapter 558, Laws of 2012, is amended to read as follows:
Section 1. 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.
