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SB 2878

Bonds; authorize issuance for constructing a Science, Technology, Engineering, Agriculture and Math Center at Alcorn State University.

2025 Regular Session Introduced by Gary Brumfield and 2 co-sponsors

Authorizes state bonds to fund construction of a STEAM/Ag Center at Alcorn State University delivering capital funding but creating future debt service for taxpayers and local jobs.

Died In Committee
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Bill Summary · SB 2878

Summary — SB 2878

Title: Bonds; authorize issuance for constructing a Science, Technology, Engineering, Agriculture and Math Center at Alcorn State University
Classification: Bill (Finance)
Introduced: March 14, 2025
Companion: HB 5060

Purpose

SB 2878 would authorize the state to issue bonds to finance the construction of a Science, Technology, Engineering, Agriculture and Math (STEAM/Ag) Center at Alcorn State University. The intent is to provide capital funding for a new facility to support STEM and agricultural education, research, and related instructional space at the university.

Key provisions (as described)

  • Authorization for the issuance of state bonds designated to fund construction of a Science, Technology, Engineering, Agriculture and Math Center at Alcorn State University.
  • Authority likely covers associated project costs such as site work, infrastructure, and equipment necessary to place the facility in service (the bill text itself is not provided here, so specific line items, dollar amounts, debt terms, or bonding structure are not stated in the available record).

Who would be affected

  • Primary beneficiary: Alcorn State University (a public institution/HBCU) — students, faculty, research programs, and campus facilities.
  • State government and taxpayers: potential increase in state-supported debt service obligations if bonds are issued; impacts to the capital budget and debt capacity.
  • Local economy and workforce: potential construction jobs and longer‑term workforce benefits from expanded STEM and agricultural training (anticipated but not quantified in the record).

Legislative history and procedural status

  • Initial referral to Finance on 2025-01-20; recorded as "Died In Committee" on 2025-02-26 in the available chronology.
  • Subsequent entries show the bill later advanced through both chambers: committee consideration, amendments, passage (Senate and House actions in May 2025), conference committee activity, enrollment, and signatures in both chambers.
  • Sent to the Governor on 2025-06-03 and ultimately vetoed by the Governor on 2025-06-22.
  • Note: the legislative record contains a chronological inconsistency (an early "Died In Committee" entry followed by extensive later floor and conference activity). The most definitive final action in the record is the Governor's veto on 2025-06-22; no override appears in the provided actions.

Fiscal impact & considerations

  • No dollar amounts or debt-service schedules are included in the provided record, so precise fiscal impacts cannot be stated.
  • Generally, bond authorization would increase state indebtedness and require future debt service payments from state funds or appropriations; it would also provide one-time capital funding for the project and potential longer-term economic and educational returns.

Related bill

  • HB 5060 (companion) — readers should consult that bill text and fiscal analysis for additional detail, if available.

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

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