JACKSON, Miss. (WJTV) – Is the Magnolia State headed towards a financial crisis?

That’s what Attorney General Jim Hood thinks will happen come January because of budget cuts.

Attorney General Hood tells us he’s now challenging Senate Bill 2363, which is called the Transparency and Simplification Act of 2016.

Hood claims it’s anything but simple and transparent.

He calls the bill defective and the issue is a “lack of revenue.”

He says the bill is vague and does not directly point out what agencies will be impacted and how they will be impacted by the state budget cuts.