AN ACT TO CREATE NEW SECTION 37-61-39, MISSISSIPPI CODE OF 1972, TO REQUIRE LOCAL SCHOOL DISTRICTS TO PROVIDE ANNUAL REPORTS DETAILING FEDERAL FUNDS RECEIVED OR EXPECTED TO BE RECEIVED; TO REQUIRE DISTRICTS TO RECEIVE LEGISLATIVE APPROVAL AND AUTHORIZATION FOR THE EXPENDITURE OF FEDERAL FUNDS PROVIDED BY THE UNITED STATES DEPARTMENT OF EDUCATION; TO REQUIRE THE APPROPRIATIONS COMMITTEES OF THE LEGISLATURE TO REVIEW AND APPROVE OR DISAPPROVE THE USE OF SUCH FUNDS; TO AUTHORIZE THE USE OF FEDERAL FUNDS WITHOUT LEGISLATIVE APPROVAL IN CASES OF FEDERAL PREEMPTION; TO PRESCRIBE PENALTIES FOR NONCOMPLIANCE; TO AUTHORIZE THE STATE AUDITOR TO INVESTIGATE AND AUDIT LOCAL SCHOOL DISTRICTS FOR COMPLIANCE; AND FOR RELATED PURPOSES.