Mississippi Code 1972 (2023) › Title 37 - EDUCATION (§§ 37-NEW-001 — 37-NEW01-004) › Chapter 29 - JUNIOR COLLEGES (§§ 37-29-1 — 37-29-613) › 2022 - COMMUNITY AND JUNIOR COLLEGES CAPITAL IMPROVEMENTS FUND (§ 37-29-321) › Section 37-29-321 - 2022 Community and Junior Colleges Capital Improvements Fund created; use of monies

(a)
(i)
A special fund, to be designated as the "2022 Community and Junior Colleges Capital Improvements Fund," is created within the State Treasury. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited into such fund. Monies in the fund may not be used or expended for any purpose except as authorized under this section.
(ii)
Monies deposited into the fund shall be disbursed, in the discretion of the Department of Finance and Administration, to pay the costs of acquisition of real property, construction of new facilities, equipping and furnishing facilities, including furniture and technology equipment and infrastructure, and addition to or renovation of existing facilities for community and junior college campuses as recommended by the Mississippi Community College Board. The amount to be expended at each community and junior college is as follows:
Coahoma....................
$ 1,570,500.00
Copiah-Lincoln....................
1,840,500.00
East Central....................
1,735,500.00
East Mississippi....................
2,015,500.00
Hinds....................
3,780,500.00
Holmes....................
2,656,500.00
Itawamba....................
2,415,500.00
Jones....................
2,295,500.00
Meridian....................
1,840,500.00
Mississippi Delta....................
1,655,500.00
Mississippi Gulf Coast....................
3,357,500.00
Northeast Mississippi....................
2,145,500.00
Northwest Mississippi....................
3,500,000.00
Pearl River....................
2,545,500.00
Southwest Mississippi....................
1,645,500.00
GRAND TOTAL....................
$35,000,000.00
(b)
Amounts deposited into such special fund shall be disbursed to pay the costs of projects described in paragraph (a) of this section. If any monies in such special fund are not used within four (4) years after the date funds are transferred under Section 2 of this act from the Capital Expense Fund created in Section
27-103-303
, Mississippi Code of 1972, into the special fund, then the community college or junior college for which any such monies are allocated under paragraph (a) of this section shall provide an accounting of such unused monies to the Department of Finance and Administration.
(c)
The Department of Finance and Administration, acting through the Bureau of Building, Grounds and Real Property Management, is expressly authorized and empowered to receive and expend any local or other source funds in connection with the expenditure of funds provided for in this section. The expenditure of monies deposited into the special fund shall be under the direction of the Department of Finance and Administration, and such funds shall be paid by the State Treasurer upon warrants issued by such department, which warrants shall be issued upon requisitions signed by the Executive Director of the Department of Finance and Administration, or his designee.
Added by Laws, 2022, ch. 510, HB 1353,§ 21, eff. 7/1/2022.