USM Property Sale or Lease Authorization and Financial Literacy Reporting
Summary
Mississippi Governor signed HB1488, authorizing the University of Southern Mississippi to sell or enter long-term leases for university property, with DFA to defer to USM recommendations on sale terms. The bill also requires all public postsecondary institutions to submit financial literacy education activity reports to their governing boards by October 1, 2026, with consolidated reports to the House and Senate Universities and Colleges Committees by November 1, 2026.
What changed
HB1488 amends Chapter 445, Laws of 2016, to authorize USM to sell or convey parcels of state-owned real property and improvements under its possession and control. The Department of Finance and Administration may now defer to USM's recommendation for sale terms upon approval by the Board of Trustees of State Institutions of Higher Learning. Additionally, the bill adds new financial literacy reporting requirements: each public postsecondary educational institution must report its financial literacy education activities for the most recently completed academic year by October 1, 2026, and the governing boards must compile consolidated reports identifying which financial literacy concepts are addressed for the legislative committees by November 1, 2026.
Public postsecondary institutions in Mississippi must inventory their financial literacy education activities and prepare reports due October 1, 2026. Institutions seeking to sell or lease university property should follow the updated DFA and IHL Board approval process under the amended authority. Compliance with the new reporting mandate applies to all Mississippi public postsecondary educational institutions.
What to do next
- Compile financial literacy education activities conducted during the most recently completed academic year
- Submit financial literacy activity report to Board of Trustees or Mississippi Community College Board by October 1, 2026
- Review internal processes for USM property sale or long-term lease transactions under amended procedures
Source document (simplified)
ChangeBridge / Mississippi / HB1488 Signed by Governor HB1488 House Bill Signed by Governor 2026-04-01
University of Southern Mississippi; authorize to sell or enter long term lease for use of university property.
An Act To Amend Section 1, Chapter 445, Laws Of 2016, Which Authorizes The Department Of Finance And Administration, Acting On Behalf Of The Board Of Trustees Of State Institutions Of Higher Learning, To Sell And Convey Or Lease Parcels Of Certain State-owned Real Property And Any Improvements Thereon Under The Possession And Control Of The University Of Southern Mississippi, To Provide That The Department Of Finance And Administration Is Entitled To Defer To The Recommendation Of The University Of Southern Mississippi For The Terms Of The Sale Upon Approval Of The Board Of Trustees Of State Institutions Of Higher Learning; To Require Each Public Postsecondary Educational Institution To Submit A Report To The Board Of Trustees Of State Institutions Of Higher Learning Or The Mississippi Community College Board, As Appropriate For The Respective Governing Board, Detailing The Postsecondary Educational Institution's Financial Literacy Education Activities Conducted During The Most Recently Completed Academic Year By October 1, 2026; To Require The Boards To Compile The Reports Received Into A Consolidated Report To Be Presented To The Chairpersons Of The House And Senate Universities And Colleges Committee By November 1, 2026; To Specify The Components Required To Be Included In The Consolidated Report By Identifying Which Financial Literacy Concepts Are Addressed Through Its Financial Literary Education Activities; And For Related Purposes.
Bill Details
State Mississippi
Session 2026 Regular Session
Chamber House
Official Source billstatus.ls.state.ms.us/2026/pdf/history...
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Sponsors
Missy Warren McGee (Rep - R) Stephanie Foster (Rep - D)
Action History
2026-04-01 H Enrolled Bill Signed 2026-03-30 S Conference Report Adopted 2026-03-26 H Conference Report Adopted 2026-03-25 H Conference Report Filed 2026-03-25 S Conference Report Filed 2026-03-24 S Conferees Named Boyd,Sparks,DuPree 2026-03-19 H Conferees Named Scoggin,Holloway (76th),McGee 2026-03-16 H Decline to Concur/Invite Conf 2026-03-12 S Returned For Concurrence 2026-03-11 S Passed As Amended 2026-03-11 S Amended 2026-03-03 S Title Suff Do Pass As Amended 2026-03-03 S DR - TSDPAA: UC To PP 2026-02-17 S Referred To Universities and Colleges;Public Property 2026-02-06 H Transmitted To Senate 2026-02-05 H Passed As Amended 2026-02-05 H Amended 2026-01-28 H Title Suff Do Pass 2026-01-19 H Referred To Universities and Colleges
Votes
2026-02-05 House Passed As Amended Yea: 121 Nay: 0 2026-03-11 Senate Passed As Amended Yea: 51 Nay: 0 2026-03-26 House Conference Report Adopted Yea: 121 Nay: 0 2026-03-30 Senate Conference Report Adopted Yea: 52 Nay: 0
Committee Referrals
2026-01-19 H Universities and Colleges 2026-02-17 S Universities and Colleges
Amendments
0000-00-00 House Amendment No 1 Adopted 0000-00-00 Senate Committee Amendment No 1
Bill Text Versions
2026-01-21 Introduced 2026-02-06 Engrossed 2026-04-01 Enrolled Legislative data powered by LegiScan (CC BY 4.0)
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