Mississippi Lawmakers Adjourn, Compromising on Budget

Sigo, Shelly
April 2003
Bond Buyer;4/8/2003, Vol. 344 Issue 31610, p6
Trade Publication
After compromising on a 3.6 billion dollar fiscal 2004 budget, Mississippi lawmakers adjourned and began preparations for campaigning for November 2003 elections. Lawmakers negotiated a compromise during the first week of April 2003, placing into the budget 2 percent of revenues that the state normally would place in a reserve account for use during the fiscal year if tax revenues come in lower than expected. A bill authorizing the city of Hattiesburg, Forrest County, and the University of Southern Mississippi to issue bonds for tourism, economic development, and commerce-related projects was sent to the governor for his signature. Other bills that were not approved during the session include a proposal that would have allowed Mississippi schools to use tax-increment financing, a measure that would have required city and county governments to get voter approval before issuing any bonds, and a bill that would have allowed local governments to seek voter approval for a one-cent infrastructure sales tax.


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