Mississippi Administrative Code
Title 38 - Treasurer
Part 3 - Mississippi Prepaid Affordable College Tuition Program (Horizon Contracts)
Chapter 4 - Administrative Fund
Rule 38-3-4.1 - Administrative Fund
Universal Citation: MS Code of Rules 38-3-4.1
Current through September 24, 2024
An Administrative Fund, separate from the Trust Fund, was established in the State Treasury to provide for the administrative costs of the MPACT Program. The Mississippi Legislature must appropriate an annual transfer from the earnings of the Trust Fund to the Administrative Fund to provide for the administrative costs of the Program for that fiscal year. In general, Administrative Fees or penalties paid by Contract Purchasers are transferred to the Administrative Fund and are used to defray the administrative costs of the Program.
Miss. Code Ann. § 37-155-15.
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