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Mississippi Senate approves bill sending BP damages to coast

Mississippi senators want to create a new savings account channeling damage payments from the 2010 Deepwater Horizon oil spill to projects on the Mississippi Gulf Coast.

The Senate voted unanimously Tuesday to approve Senate Bill 2634 , which would create an account to $750 million in receive economic damages that BP has agreed to pay to Mississippi over 17 years.

The measure now moves to the House for more debate. House Speaker Philip Gunn, a Clinton Republican, has said the oil spill settlement should be spent on projects to grow the coastal economy and, by extension, state economy.

The Senate measure is co-sponsored by six Mississippi coast senators and backed by Republican Lt. Gov. Tate Reeves.

Another $1.5 billion in damages is being spent on environmental projects in Mississippi.

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