AN ACT TO AMEND SECTION 27-7-1001, MISSISSIPPI CODE OF 1972, TO DEFINE CERTAIN TERMS RELATED TO CATASTROPHE SAVINGS ACCOUNTS, INCLUDING DISASTER MITIGATION EXPENSES AND DISASTER RECOVERY EXPENSES; TO AMEND SECTION 27-7-1003, MISSISSIPPI CODE OF 1972, TO CLARIFY THAT THE LIMITS ON THE TOTAL AMOUNT THAT MAY BE CONTRIBUTED TO A CATASTROPHE SAVINGS ACCOUNT IS AN ANNUAL LIMIT; TO AMEND SECTION 27-7-1005, MISSISSIPPI CODE OF 1972, TO CLARIFY THAT CATASTROPHE SAVINGS ACCOUNTS MAY BE USED FOR QUALIFIED DISASTER MITIGATION EXPENSES; TO AMEND SECTION 83-1-191, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE MISSISSIPPI COMPREHENSIVE HURRICANE AND WIND DAMAGE MITIGATION PROGRAM TRUST FUND SHALL FUND THE COMPREHENSIVE HURRICANE AND WIND DAMAGE MITIGATION PROGRAM; TO ADD "WIND" TO THE MISSISSIPPI COMPREHENSIVE HURRICANE DAMAGE MITIGATION PROGRAM; TO DELETE THE REPEALER; TO CREATE A SPECIAL FUND IN THE STATE TREASURY TO BE DESIGNATED AS THE "MISSISSIPPI COMPREHENSIVE HURRICANE AND WIND DAMAGE MITIGATION PROGRAM TRUST FUND; TO AMEND SECTION 83-2-33, MISSISSIPPI CODE OF 1972, TO PROVIDE FUNDS FOR THE MISSISSIPPI COMPREHENSIVE HURRICANE AND WIND DAMAGE MITIGATION PROGRAM; TO TRANSFER FIVE MILLION DOLLARS FROM THE SURPLUS LINES ASSOCIATION TO THE MISSISSIPPI COMPREHENSIVE HURRICANE AND WIND DAMAGE MITIGATION PROGRAM TRUST FUND; AND FOR RELATED PURPOSES.

Statutes affected:
As Introduced: 27-7-1001, 27-7-1003, 27-7-1005, 83-1-191, 83-2-33