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MississippiSB 30782026 Regular SessionSenateWALLET

Appropriation; Banking and Consumer Finance, Department of.

Sponsored By: Hopson

Signed by Governor

Appropriations DAppropriations AAppropriations

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 0 costs, 2 mixed.

FY2027 funding for state banking regulator

The state provides $12,845,602 to the Department of Banking and Consumer Finance for July 1, 2026 through June 30, 2027. Of this, $600,000 comes from the department’s civil money penalty fund for IT services, training, and support. This funding keeps the department’s operations running for the fiscal year.

Oversight and purchasing rules for department

The department must keep accounting and personnel records like FY2026 and file its FY2028 budget request in the same detailed format. It cannot incur obligations beyond its appropriation, and responsible officers can be held personally liable for violations. Payments to contract workers must follow IRS Publication 15‑A as interpreted by the State Auditor. When bids are tied on price, quality, and service, Mississippi Industries for the Blind gets preference, including for non‑competitive purchases. These rules take effect July 1, 2026.

Pay and hiring limits at Banking Department

Beginning July 1, 2026, the department may spend up to $9,001,454 on pay in FY2027: $8,101,309 for salaries and fringe, plus $900,145 to fill vacancies. The department is authorized 86 permanent positions. Vacancy funds must hire into positions that were unfilled at the end of FY2026, not for raises or title changes; funding may adjust if hires occur after March 1, 2026. Salaries must follow the State Variable Compensation Plan, and no one can be paid below the Personnel Board minimum. The Personnel Board publishes projected payroll costs and can freeze salary actions if payroll would exceed FY2027 limits or raise FY2028 needs; essential new hires may proceed. General funds in this act cannot replace lost federal or special funds for salaries. FY2026 escalated headcounts convert to time‑limited positions unless noted otherwise.

Sponsors & Cosponsors

Sponsor

  • Hopson

    Affiliation unavailable

Cosponsors

  • DeBar

    Affiliation unavailable

  • Rod Hickman

    Democratic • Senate

  • Angela Burks Hill

    Republican • Senate

  • Tyler McCaughn

    Republican • Senate

  • Sollie B. Norwood

    Democratic • Senate

  • Jeff Tate

    Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 221 • No: 0

Senate vote • 3/17/2026

Concurred in Amend From House

Yes: 52 • No: 0

House vote • 3/12/2026

Passed As Amended

Yes: 118 • No: 0

Senate vote • 2/19/2026

Passed

Yes: 51 • No: 0

Actions Timeline

  1. Approved by Governor

    3/25/2026legislature

  2. Enrolled Bill Signed

    3/20/2026House

  3. Enrolled Bill Signed

    3/20/2026Senate

  4. Concurred in Amend From House

    3/17/2026Senate

  5. Returned For Concurrence

    3/13/2026House

  6. Passed As Amended

    3/12/2026House

  7. Amended

    3/12/2026House

  8. Title Suff Do Pass As Amended

    3/11/2026House

  9. DR - TSDPAA: AP To A3

    3/11/2026House

  10. DR - TSDPAA: A3 To AP

    3/11/2026House

  11. Referred To Appropriations D;Appropriations A

    2/24/2026House

  12. Transmitted To House

    2/23/2026Senate

  13. Passed

    2/19/2026Senate

  14. Title Suff Do Pass

    2/18/2026Senate

  15. Referred To Appropriations

    2/17/2026Senate

Bill Text

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