Attorney General Jim Hood announced Thursday that $34.4 million recovered mostly from a lawsuit settlement with the Moody’s Corporation was delivered to the state treasury.
Hood had announced in January the state would receive more than $26 million from the Moody’s settlement. as part of a settlement the credit rating agency made with 21 states, the District of Columbia and the federal government.
Hood said the settlement can help the state with its revenue shortfalls as lawmakers work to set a state budget for the coming year.
Hood is urging the Legislature to appropriate about $7 million of the money to the Department of Mental Health to reopen the 25-bed Chemical Dependency Unit for men at the Mississippi State Hospital at Whitfield, and to fund the state’s Intellectual Disabilities/Developmental Disabilities Home and Community Based Waiver program.