Mississippi § 57-103-11 - Mississippi Technology Alliance Administration Fund created; purpose; disbursement of monies; Mississippi Technology Alliance to develop performance monitoring system and make annual performance report before receiving funds.

§ 57-103-11. Mississippi Technology Alliance Administration Fund created; purpose; disbursement of monies; Mississippi Technology Alliance to develop performance monitoring system and make annual performance report before receiving funds.

There is created in the State Treasury a special fund, to be designated as the “Mississippi Technology Alliance Administration Fund,” which shall consist of funds appropriated or otherwise made available by the Legislature. The fund shall be maintained by the State Treasurer as a separate and special fund, separate and apart from the General Fund of the state. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited into such fund. Monies in the fund shall be disbursed, in the discretion of the Mississippi Development Authority, to provide funds to defray the costs incurred by the Mississippi Technology Alliance in the implementation and administration of the programs created in Sections 57-103-1 through 57-103-9. Before January 1, 2010, the Mississippi Technology Alliance shall devise and implement a performance monitoring system consisting of the following: Objectives and benchmarks for each program; Performance measures for each program; and A definition of the return on investment that is appropriate and accurate for every program. From and after January 1, 2011, the Mississippi Technology Alliance shall report annually to the Mississippi Development Authority and the Legislature as to its success in meeting its program objectives and performance measures required by this subsection (2). The Mississippi Development Authority may not disburse any funds to the Mississippi Technology Alliance, unless it has met the reporting requirements of this subsection (2).