The bill created the Gulf Coast Restoration Reserve Fund, which would hold the money separate from general tax dollars.
Lieutenant Governor Tate Reeves stated, "I continue to believe the vast majority of the BP settlement should be spent on the three coastal counties where the disaster occurred," Lt. Gov. Reeves said. "Through town hall meetings and other events on the Gulf Coast, I have heard from residents and community leaders about the impact the disaster had on South Mississippi. It is important to separate these dollars so they can be spent on projects that create jobs to spur the local economy on the Coast, which will ultimately benefit the entire state of Mississippi."
The bill was authored by Senator Brice Wiggins, R-Pascagoula, and co-authored by Senator Tommy Gollott, R-Biloxi; Mike Seymour, R-Vancleave; Philip Moran, R-Kiln; and Joel Carter Jr., R-Biloxi.
The bill will now go to the House of Representative. Last year, Senator Wiggins wrote a similar bill, but it died in the House.