Budget Cycle

Governor Submits Budget
November 15

Fiscal Year Begins
July 1 

Governor Signs Budget 
5 days after approval

Budget Links 

FY2025 (proposed)
FY2024 (enacted)
FY2023 (enacted)
FY2022 (enacted)
FY2021 (enacted)
FY2020 (enacted)

Proposed Budget - Fiscal Year 2025

On January 31, Mississippi Governor Tate Reeves released his fiscal 2025 budget recommendation. The proposal calls for $7.96 billion in general fund agency appropriations, an increase of 1.5 percent from fiscal 2024. General fund revenue estimates for fiscal 2025 total $7.64 billion, a 14.6 percent increase over the prior year amount of $6.66 billion. The budget sets aside two percent or $153 million of general funds leaving a total of $7.49 billion available for appropriations for fiscal 2025.

Proposed Budget Highlights 

The proposed budget highlights the governor’s agenda of maintaining the state’s economic momentum, strengthening education, training Mississippians for future jobs, and enhancing efforts to preserve public safety and reduce crime. 

Economic Proposals 

  • Proposes eliminating the state income tax by reducing the income tax to three percent in calendar year 2026 and phasing it out completely by calendar year 2029. 
  • Allocates $100 million for new site development efforts in every region of the state. 
  • Directs $10 million to make further investments in the state’s ports, airports, and railways. 
  • Proposes $294 million for two infrastructure projects to entice additional companies to the state. 
  • Reduces the need for more state debt by proposing to allocate $50 million for Project Triple Crown and $133 million for Project Poppy rather than borrowing these funds. 

Education and Workforce Proposals

  • Calls for an additional $1.8 million to fully fund the Education Scholarship Account program. 
  • Proposes $5 million to fully build out the customized training efforts of AccelerateMS and further increase the state’s competitiveness in the global market. 
  • Directs $5 million for a Patriotic Education fund to provide local grants for patriotic education programming. 

Healthcare Proposal

  • Proposes a 4.6 percent increase to the Mississippi Hospital Access Program (MHAP) which will provide approximately $70 million in additional funding for hospitals. 
  • Allocates $9.8 million to establish a Youth Court Division in each of Mississippi’s twenty Chancery Court Districts to have jurisdiction over all child welfare matters. 

Public Safety Proposals

  • Requests a $10.35 million increase for Capitol Police to fund salaries, patrol cars, equipment, and other costs for 230 officers in the Capitol Complex Improvement District (CCID). 
  • Proposes $4.36 million to comply with House Bill 1216 and provide funding to assist counties with hiring additional critical support staff positions for judges.