Bill Text: MS SB2126 | 2014 | Regular Session | Introduced

---

Bill Title: ABC Capital Fund; create to maintain state liquor distribution operation and deposit alcoholic beverage permit fees into it.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2014-02-04 - Died In Committee [SB2126 Detail]

Download: Mississippi-2014-SB2126-Introduced.html

---

MISSISSIPPI LEGISLATURE

2014 Regular Session

To: Finance

By: Senator(s) Fillingane

Senate Bill 2126

AN ACT TO CREATE THE ABC CAPITAL FUND IN THE STATE TREASURY; TO PROVIDE THAT MONEY IN THE FUND SHALL BE UTILIZED BY THE DEPARTMENT OF REVENUE FOR THE PURPOSE OF DEFRAYING THE COSTS INCURRED IN MAINTAINING THE DEPARTMENT'S LIQUOR DISTRIBUTION OPERATION; TO AMEND SECTION 27-71-29, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE ANNUAL PRIVILEGE LICENSE TAX PAID BY EACH PERSON APPROVED FOR A PERMIT UNDER THE ALCOHOLIC BEVERAGE CONTROL LAW SHALL BE DEPOSITED TO THE CREDIT OF SUCH FUND; AND FOR RELATED PURPOSES.

     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

     SECTION 1.  A special fund, to be designated as the "ABC Capital Fund," is created within the State Treasury.  The fund shall consist of money deposited into the fund pursuant to Section 27-71-29 and any other money designated for deposit into the fund.  Money in the fund shall be utilized by the Department of Revenue solely for the purpose of defraying the costs incurred in maintaining the department's liquor distribution operation.  Money in the fund shall be expended upon appropriation by the Legislature.  The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state.  Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest or investment earnings on amounts in the fund shall be deposited into the fund.

     SECTION 2.  Section 27-71-29, Mississippi Code of 1972, is amended as follows:

     27-71-29.  (1)  All taxes levied by this article shall be paid to the * * *State Tax Commission department in cash or by personal check, cashier's check, bank exchange, post office money order or express money order and shall be deposited by the * * *commission department in the State Treasury on the same day collected, but no remittances other than cash shall be a final discharge of liability for the tax herein imposed and levied unless and until it has been paid in cash to the * * *State Tax Commission department.

     (2)  All taxes levied under Section 27-71-7(1) and received by the * * *commission department under this article shall be paid into the General Fund, and the three percent (3%) levied under Section 27-71-7(2) and received by the * * *commission department under this article shall be paid into the special fund in the State Treasury designated as the " * * *Alcoholism Treatment and Rehabilitation Fund Mental Health Programs Fund" as required by law.

     (3)  All annual privilege license taxes levied under Section 27-71-5(1) and received by the department under this article shall be paid into the ABC Capital Fund created in Section 1 of this act.

     (4)  Any funds derived from the sale of alcoholic beverages in excess of inventory requirements shall be paid not less often than annually into the General Fund.

     SECTION 3.  This act shall take effect and be in force from and after July 1, 2014.

---