Read the full stored bill text
H. B. No. 1488 *HR26/R1823SG* ~ OFFICIAL ~ G1/2
26/HR26/R1823SG
PAGE 1 (MCL\KW)
To: Universities and
Colleges
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026
By: Representatives McGee, Foster
HOUSE BILL NO. 1488
(As Sent to Governor)
AN ACT TO AMEND SECTION 1, CHAPTER 445, LAWS OF 2016, WHICH 1
AUTHORIZES THE DEPARTMENT OF FINANCE AND ADMINISTRATION, ACTING ON 2
BEHALF OF THE BOARD OF TRUSTEES OF STATE INSTITUTIONS OF HIGHER 3
LEARNING, TO SELL AND CONVEY OR LEASE PARCELS OF CERTAIN 4
STATE-OWNED REAL PROPERTY AND ANY IMPROVEMENTS THEREON UNDER THE 5
POSSESSION AND CONTROL OF THE UNIVERSITY OF SOUTHERN MISSISSIPPI, 6
TO PROVIDE THAT THE DEPARTMENT OF FINANCE AND ADMINISTRATION IS 7
ENTITLED TO DEFER TO THE RECOMMENDATION OF THE UNIVERSITY OF 8
SOUTHERN MISSISSIPPI FOR THE TERMS OF THE SALE UPON APPROVAL OF 9
THE BOARD OF TRUSTEES OF STATE INSTITUTIONS OF HIGHER LEARNING; TO 10
REQUIRE EACH PUBLIC POSTSECONDARY EDUCATIONAL INSTITUTION TO 11
SUBMIT A REPORT TO THE BOARD OF TRUSTEES OF STATE INSTITUTIONS OF 12
HIGHER LEARNING OR THE MISSISSIPPI COMMUNITY COLLEGE BOARD, AS 13
APPROPRIATE FOR THE RESPECTIVE GOVERNING BOARD, DETAILING THE 14
POSTSECONDARY EDUCATIONAL INSTITUTION'S FINANCIAL LITERACY 15
EDUCATION ACTIVITIES CONDUCTED DURING THE MOST RECENTLY COMPLETED 16
ACADEMIC YEAR BY OCTOBER 1, 2026; TO REQUIRE THE BOARDS TO COMPILE 17
THE REPORTS RECEIVED INTO A CONSOLIDATED REPORT TO BE PRESENTED TO 18
THE CHAIRPERSONS OF THE HOUSE AND SENATE UNIVERSITIES AND COLLEGES 19
COMMITTEE BY NOVEMBER 1, 2026; TO SPECIFY THE COMPONENTS REQUIRED 20
TO BE INCLUDED IN THE CONSOLIDATED REPORT BY IDENTIFYING WHICH 21
FINANCIAL LITERACY CONCEPTS ARE ADDRESSED THROUGH ITS FINANCIAL 22
LITERARY EDUCATION ACTIVITIES; AND FOR RELATED PURPOSES. 23
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 24
SECTION 1. Section 1, Chapter 445, Laws of 2016, is amended 25
as follows: 26
Section 1. (1) The Department of Finance and 27
Administration, in consultation with the Board of Trustees of 28
H. B. No. 1488 *HR26/R1823SG* ~ OFFICIAL ~
26/HR26/R1823SG
PAGE 2 (MCL\KW)
State Institutions of Higher Learning, is authorized to sell and 29
convey or lease all or portions of the parcels of certain 30
state-owned real property and any improvements thereon under the 31
possession and control of the University of Southern Mississippi, 32
located in Forrest County, Mississippi, and more particularly 33
described as follows: 34
The following described property situated in Forrest County, 35
Mississippi to wit: South 1/2 of Northeast 1/4 and Southeast 36
1/4 Section 35 and West 1/2 of West 1/2 and Southeast 1/4 of 37
Northwest 1/4 and Northeast 1/4 of Southwest 1/4 Section 36 38
in Township 5 North range 14 West at St Stephens Meridian and 39
containing 480 acres more or less, and commence at a 4" x 4" 40
concrete monument at the Southeast Corner of the NE 1/4 of 41
the NW 1/4 of Section 36, Township 5 North, range 14 West, 42
Forrest County, Mississippi, and run South 89 degrees 09 43
minutes 27 seconds West for 660.35 feet to a 1/2 inch rebar 44
and the POINT OF BEGINNING, from the POINT OF BEGINNING 45
continue South 89 degrees 09 minutes 27 seconds West for 46
660.35 feet to a 1/4 inch iron pipe; thence run North 01 47
degrees 46 minutes 11 seconds West for 1333.93 feet to a 4 48
inch x 4 inch concrete monument; thence run North 89 degrees 49
49 minutes 24 seconds East for 665.80 feet to a 1/2 inch 50
rebar; thence run South 01 degrees 32 minutes 29 seconds East 51
for 1326.12 feet back to the POINT OF BEGINNING; said parcel 52
of land is a part of the NE 1/4 of the NW 1/4 of Section 36, 53
H. B. No. 1488 *HR26/R1823SG* ~ OFFICIAL ~
26/HR26/R1823SG
PAGE 3 (MCL\KW)
Township 5 North, range 14 West, Forrest County, Mississippi, 54
and contains 20.24 acres more or less and also an easement 55
more particularly described as commence at a 4 inch x 4 inch 56
concrete monument at the NE corner of the SE 1/4 of the NW 57
1/4 of Section 36 Township 5 North range 14 West Forrest 58
County, Mississippi for the POINT OF BEGINNING; from the 59
POINT OF BEGINNING run South 00 degrees 04 minutes 17 seconds 60
West for 699.86 feet to a 3/4 inch iron pipe and the North 61
margin line of the Country Club paved public road; thence run 62
North 78 degrees 01 minutes 33 seconds West on and along said 63
margin line for 40.00 feet to a 1/2 inch rebar, thence run 64
North 04 degrees 33 minutes 53 seconds East for 142.19 feet 65
to a 1/2 inch rebar; thence run North 00 degrees 04 minutes 66
17 seconds West for 489.86 feet to a 1/2 inch rebar; thence 67
run North 45 degrees 23 minutes 08 seconds West for 44.26 ft. 68
to 1/2 inch rebar; thence run South 89 degrees 09 minutes 27 69
seconds West for 640.35 feet to a 1/2 inch rebar; then run 70
North 00 degrees 50 minutes 33 seconds West for 28.00 feet to 71
a 1/2 inch rebar; thence run North 89 degrees 09 minutes 27 72
seconds East for 700.35 feet back to the POINT OF BEGINNING; 73
said parcel of land is a part of the SE, 1/4 of the NW 1/4 of 74
Section 36, Township 5 North, range 14 West, Forrest County, 75
Mississippi, and contains 0.91 acres, more or less; together 76
with all improvements thereon and appurtenances thereunto 77
belonging. 78
H. B. No. 1488 *HR26/R1823SG* ~ OFFICIAL ~
26/HR26/R1823SG
PAGE 4 (MCL\KW)
(2) (a) If sold, the real property described in subsection 79
(1) of this section and any improvements thereon shall be sold for 80
not less than the current fair market value as determined by the 81
averaging of at least two (2) appraisals by qualified appraisers, 82
one (1) of which who shall be selected by the Department of 83
Finance and Administration, and both of which shall be certified 84
and licensed by the Mississippi Real Estate Appraiser Licensing 85
and Certification Board. Except as otherwise provided herein, the 86
Department of Finance and Administration shall be entitled to 87
defer to the recommendation of the University of Southern 88
Mississippi for the terms of the sale upon approval of the Board 89
of Trustees of State Institutions of Higher Learning. 90
(b) If the real property described in subsection (1) of 91
this section is leased, the University of Southern Mississippi, 92
with the approval of the Board of Trustees of State Institutions 93
of Higher Learning, is authorized to negotiate all aspects of any 94
lease and any terms and ancillary agreements pertaining to any 95
lease as may be reasonably necessary to effectuate the intent and 96
purposes of this section and to ensure a fair and equitable return 97
to the state. Any lease approved and entered into on the 98
University's behalf shall not exceed a term of forty (40) years 99
and shall not be cancelled by successor boards based on the 100
binding successor doctrine. 101
(3) The property described in subsection (1) of this section 102
shall be sold or leased only if such action is consistent with the 103
H. B. No. 1488 *HR26/R1823SG* ~ OFFICIAL ~
26/HR26/R1823SG
PAGE 5 (MCL\KW)
university's goals of research, innovation and commercialization, 104
and only to result in the highest and best use of the property and 105
to ensure that the property is used in a manner that will not 106
interfere with the operation of the University of Southern 107
Mississippi. 108
(4) The State of Mississippi shall retain all mineral rights 109
to the real property sold or leased under this section. 110
(5) The Department of Finance and Administration may correct 111
any discrepancies in the legal description of the property 112
provided in this section. 113
(6) The Department of Finance and Administration may recover 114
its costs associated with the transaction authorized by this 115
section from the proceeds of the sale or lease of the real 116
property described in subsection (1) of this section, and the net 117
proceeds of the sale or lease shall be deposited into a special 118
fund in the State Treasury and shall be expended only for the 119
benefit of the University of Southern Mississippi. 120
SECTION 2. (1) By October 1, 2026, each state institution 121
of higher learning, public community college or public junior 122
college shall submit a report to either the Board of Trustees of 123
State Institutions of Higher Learning or the Mississippi Community 124
College Board, as appropriate, detailing the entity's financial 125
literacy education activities conducted during the most recently 126
completed academic year. Each reported activity under subsections 127
(3) and (4) of this section shall denote whether the activity is 128
H. B. No. 1488 *HR26/R1823SG* ~ OFFICIAL ~
26/HR26/R1823SG
PAGE 6 (MCL\KW)
currently ongoing at the institution or college, as well as 129
whether the activity is required by an accrediting body. 130
(2) The Mississippi Community College Board and the Board of 131
Trustees of State Institutions of Higher Learning shall each 132
compile the reports received under subsection (1) of this section 133
and submit a consolidated report to the Chairpersons of the 134
Universities and Colleges Committees of the Mississippi Senate and 135
the House of Representatives no later than November 1, 2026. 136
(3) Each report submitted under subsection (1) shall 137
include, at a minimum, all of the following: 138
(a) Policies concerning financial literacy currently in 139
effect or under development; 140
(b) Financial literacy credit-bearing courses offered 141
to students, including any course required for degree or 142
certificate completion; 143
(c) Financial literacy certification or 144
credential-style programs offered to students; 145
(d) Workshops, seminars or similar student-facing 146
financial literacy events provided by the institution; 147
(e) Opportunities for one-on-one financial counseling 148
available to students; 149
(f) Any campus-wide financial education initiatives; 150
and 151
(g) Online resources, digital tools or interactive 152
financial literacy materials available to students. 153
H. B. No. 1488 *HR26/R1823SG* ~ OFFICIAL ~
26/HR26/R1823SG
PAGE 7 (MCL\KW)
ST: University of Southern Mississippi;
authorize to sell or enter long term lease for
use of university property.
(4) Each report shall identify which, if any, of the 154
financial literacy concepts listed below are addressed through the 155
activities described in subsection (3). For purposes of this 156
section "financial literacy concepts" include, but is not limited 157
to, the following: 158
(a) Personal budgeting and cash-flow management; 159
(b) Credit, debt and credit scoring; 160
(c) Student loans, financial aid and repayment; 161
(d) Basic tax obligations and filing requirements; 162
(e) Insurance and risk management; 163
(f) Saving, investing and retirement planning; 164
(g) Consumer protection, contracts and fraud 165
prevention; 166
(h) Evaluation of employment offers, wages and 167
benefits; and 168
(i) Investments in property, including mortgages, 169
leases and liens. 170
SECTION 3. Section 1 of this act shall take effect and be in 171
force from and after its passage. Section 2 of this act shall 172
take effect and be in force from and after July 1, 2026. 173