Miss. Code § 37-61-35
There is hereby created a special fund in the State Treasury to be designated School Ad Valorem Tax Reduction Fund into which proceeds collected pursuant to Sections 27-65-75(7) and 27-67-31(a) shall be deposited. Beginning with the 1994 state fiscal year, the entire amount of monies in such special fund shall be appropriated annually to the State Department of Education which shall distribute the appropriated amount to the various school districts in the proportion that the net enrollment of each school district bears to the net enrollment of all school districts within the state. On or before June 1 of each year, the State Department of Education shall notify each school district of the amount to which such district is entitled pursuant to this section.
Miss. Code § 37-61-35