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SB 3048

Appropriation; Banking and Consumer Finance, Department of.

2025 Regular Session Introduced by Briggs Hopson and 3 co-sponsors

Provides FY2026 operating funding and staffing controls for the Mississippi Department of Banking and Consumer Finance, with strict payroll, procurement, and reporting rules.

Died In Conference
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Bill Summary · SB 3048

Summary — SB 3048 (Appropriation; Department of Banking and Consumer Finance)

Status: Died In Conference (recorded 2025-03-29). (Legislative action log includes later procedural entries through June 2025 that conflict with the "Died In Conference" entry; see Timeline section below.)

Purpose

Provide fiscal year (FY) 2026 operating appropriations to the Mississippi Department of Banking and Consumer Finance and to set related personnel, purchasing, and reporting conditions.

Key provisions

  • Appropriation amount

    • $12,139,077 appropriated from the State Treasury to the Department of Banking and Consumer Finance for the fiscal year July 1, 2025 – June 30, 2026.

  • Authorized staffing

    • Permanent headcount authorized: 25
    • Time‑limited positions: 0

  • Personnel and salary controls

    • Personal services (payroll) for FY2027 must not exceed amounts appropriated for FY2026 unless the Legislature adds programs/positions to the FY2026 budget.
    • The State Personnel Board shall publish the agency’s personal services appropriation and projected annualized payroll costs.
    • Vacancy funds made available for FY2026 may be used to fill vacancies from FY2025, but such vacancy funds must be used to increase headcount and not for promotions, title changes, in‑range salary adjustments, or other mechanisms to raise current employees’ salaries.
    • If the agency’s projected FY2026 payroll exceeds annualized costs, no salary actions will be processed by the State Personnel Board except for new hires deemed essential.
    • Escalation or transfer of funds for salaries/positions requires written approval from the Department of Finance and Administration (DFA) with proof of availability of new/additional funds. DFA will not authorize escalation without proof.

  • Fund use and compliance

    • General funds may not be used to replace federal or other special funds previously used for salaries if those funds are withdrawn.
    • Funds may not be used in violation of IRS Publication 15‑A with respect to reporting payments to contract employees (as interpreted by the State Auditor).

  • Reporting, records, and budget submission

    • The department must maintain accounting and personnel records for these funds at the same level of detail as FY2025.
    • FY2027 budget request to the Joint Legislative Budget Committee must be submitted in comparable format/detail to the FY2026 process.

  • Procurement and purchasing preferences

    • When bids are equal, preference must be given to Mississippi Industries for the Blind.
    • The same preference applies when purchases are made without competitive bids.

  • Fiscal controls and payment mechanics

    • Funds must be expended in compliance with Section 27‑104‑25, Miss. Code (no agency may incur obligations beyond its appropriation).
    • Disbursement through State Treasurer upon warrant of the State Fiscal Officer as provided by law.

  • Effective date

    • July 1, 2025.

Who is affected

  • Primary: Mississippi Department of Banking and Consumer Finance (budget, staffing, and administrative procedures).
  • Secondary: State Personnel Board, Department of Finance and Administration, State Auditor, vendors (including Mississippi Industries for the Blind), and any employees or contractors whose pay/positions are subject to the restrictions.

Procedural/timeline notes

  • Introduced: April 16, 2025.
  • Committee and floor activity is recorded through May 2025 (committee reports, passage in both houses, enrollment).
  • Conferees named; entry shows "Died In Conference" on 2025-03-29. The action log also contains entries indicating transmittal to the governor and an entry "Filed without the Governor's signature" dated 2025-06-20. These entries are inconsistent; final enactment status should be verified with the official legislative records or the Secretary of State for definitive outcome.

Compiled from official sources — confirm details with the bill’s official record.

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