Mississippi legislation · 2026 Regular Session
Mississippi SB2597: DFA; authorize the transfer and conveyance of ABC Warehouse to Madison County Economic Development Authority.
Status: Failed, March 30, 2026
AN ACT TO AUTHORIZE THE MISSISSIPPI DEPARTMENT OF FINANCE AND ADMINISTRATION TO TRANSFER AND CONVEY REAL PROPERTY AND IMPROVEMENTS THEREON IN MADISON, MISSISSIPPI, COMMONLY KNOWN AS THE ABC WAREHOUSE, TO THE MADISON COUNTY ECONOMIC DEVELOPMENT AUTHORITY; TO REQUIRE THE DEPARTMENT TO OBTAIN A LEGAL DESCRIPTION OF THE PROPERTY PRIOR TO CONVEYANCE AND INCLUDE SUCH DESCRIPTION IN THE DEED OR INSTRUMENT OF CONVEYANCE; TO DESCRIBE THE MANNER OF SALE; TO REQUIRE THAT THE PROPERTY BE SOLD FOR NOT LESS THAN FAIR MARKET VALUE AS DETERMINED BY TWO PROFESSIONAL, CERTIFIED GENERAL APPRAISERS; TO AUTHORIZE THE DEPARTMENT TO EXECUTE AND DELIVER DEEDS, BILLS OF SALE OR OTHER INSTRUMENTS NECESSARY TO CONVEY THE PROPERTY; TO REQUIRE REMAINING PROCEEDS FROM THE SALE TO BE DEPOSITED INTO THE STATE GENERAL FUND; AND FOR RELATED PURPOSES.
What the bill says
An act to authorize the mississippi department of finance and administration to transfer and convey real property and improvements thereon in madison, mississippi, commonly known as the abc warehouse, to the madison county economic development authority; to require the department to obtain a legal description of the property prior to conveyance and include such description in the deed or instrument of conveyance; to describe the manner of sale; to require that the property be sold for not less than fair market value as determined by two professional, certified general appraisers…
From the engrossed text:
AN ACT TO AUTHORIZE THE MISSISSIPPI DEPARTMENT OF FINANCE AND ADMINISTRATION TO TRANSFER AND CONVEY REAL PROPERTY AND IMPROVEMENTS THEREON IN MADISON, MISSISSIPPI, COMMONLY KNOWN AS THE ABC WAREHOUSE, TO THE MADISON COUNTY ECONOMIC DEVELOPMENT AUTHORITY; TO REQUIRE THE DEPARTMENT TO OBTAIN A LEGAL DESCRIPTION OF THE PROPERTY PRIOR TO CONVEYANCE AND INCLUDE SUCH DESCRIPTION IN THE DEED OR INSTRUMENT OF CONVEYANCE; TO DESCRIBE THE MANNER OF SALE; TO REQUIRE THAT THE PROPERTY BE SOLD FOR NOT LESS THAN FAIR MARKET VALUE AS DETERMINED BY TWO PROFESSIONAL, CERTIFIED GENERAL APPRAISERS; TO AUTHORIZE THE DEPARTMENT TO EXECUTE AND DELIVER DEEDS, BILLS OF SALE OR OTHER INSTRUMENTS NECESSARY TO CONVEY THE PROPERTY; TO REQUIRE REMAINING PROCEEDS FROM THE SALE TO BE DEPOSITED INTO THE STATE GENERAL FUND; AND FOR RELATED PURPOSES. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: SECTION 1. (1) The Mississippi Department of Finance and Administration is authorized to transfer to the Madison County Economic Development Authority, certain real property located at 1286 Gluckstadt Road, Madison, Mississippi, commonly known as the ABC Warehouse, together with any improvements located thereon and any property related thereto. (2) The Department of Finance and Administration shall obtain a legal description of the property prior to conveyance, *SS36/R1102PS* S. B. No. 2597 ~ OFFICIAL ~ G1/2 26/SS36/R1102PS PAGE and such legal …