SB 3078 Mississippi Senate · 2026 Regular Session

Appropriation; Banking and Consumer Finance, Department of.

SB 3078 appropriates $12,545,602 for Mississippi's Department of Banking and Consumer Finance for fiscal year 2027, primarily funding employee salaries and benefits. The bill specifies that $9,001,454 must be used exclusively for "Personal Services" (salaries, wages, and fringe benefits) for 86 authorized positions, with strict rules preventing the use of these funds for promotions, salary increases, or replacing federal funds. It requires the department to maintain detailed financial records and ensures no salary reductions below state personnel board minimums, while prohibiting excess spending beyond the allocated budget.
Bill status signed all 5 stages cleared
Introduction
Feb 2026
Committee Review
Mar 2026
Senate Passage
Mar 2026
House Passage
Mar 2026
Signed into Law
Mar 2026
Introduced Feb 23, 2026 Signed Mar 25, 2026
Maddy AI version diff · 2 comparisons

What changed between versions

As Passed the upper Current version · 5 edits
MODERATE
The bill increases the total appropriation for the State Department of Banking and Consumer Finance by $300,000 (from $12,545,602 to $12,845,602) by doubling the allocation from the DBCF Civil Money Penalty Fund to $600,000 and specifying it is for IT related services, training, and support. Within Personal Services, $94,677 was shifted from salaries/fringe benefits into Vacancy Funding, and the deadline for filling vacancies before proportional adjustment moved from February 1 to March 1, 2026. The explicit repeal date of June 30, 2026 was removed from Section 8.
FISCAL

Total appropriation increased by $300,000, from $12,545,602 to $12,845,602 for Fiscal Year 2027.

Section 5: The DBCF Civil Money Penalty Fund allocation doubled from $300,000 to $600,000 and now specifies the funds are for IT related services, training, and support.

Within Personal Services, Employee Salaries, Wages and Fringe Benefits decreased by $94,677 (from $8,195,986 to $8,101,309) while Vacancy Funding increased by the same amount (from $805,468 to $900,145).

TIMELINE

The date by which the agency must fill additional headcounts before Vacancy Funding is proportionally adjusted changed from February 1, 2026 to March 1, 2026, giving the agency an extra month.

Section 8 no longer states the act shall stand repealed from and after June 30, 2026. The act still takes effect July 1, 2026 but no longer has that explicit sunset clause.

Floor votes · Senate Feb 19, 2026 · House Mar 12, 2026

How they voted

500
Passed · 2 other
Total votes 52
Feb 19, 2026
D Democratic18
17 Yea 1
94% Yea
R Republican34
33 Yea 1
97% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
14
Key actions
7
Committee
4
Amendments
1
Mar 25, 2026
Signed into law
Approved by Governor
executive
Mar 17, 2026
Upper · Passed
Concurred in Amend From House
upper
Mar 12, 2026
Lower · Passed
Passed As Amended
lower
Mar 12, 2026
Lower · Passed
Amended
lower
Mar 11, 2026
Lower · Passed
Title Suff Do Pass As Amended
lower
Feb 24, 2026
Committee
Referred To Appropriations D;Appropriations A
lower
Feb 23, 2026
Introduced
Transmitted To House
upper
Feb 19, 2026
Upper · Passed
Passed
upper
Feb 18, 2026
Upper · Passed
Title Suff Do Pass
upper
Feb 17, 2026
Committee
Referred To Appropriations
upper
1 primary · 6 co-sponsors

Sponsors