House Bill 821 - Save Our Roads Act of 2010

• Increases gasoline excise tax by 5 cents per gallon, effective August 15, 2010, with 25% of proceeds funding a local government loan program and 75% allocated to state highway construction and improvements.

• Establishes the Local Governments Road Improvement Project Revolving Loan Fund administered by the Mississippi Department of Transportation, providing interest-free loans up to 50% of project costs for counties and municipalities to repair and improve roads.

• Requires counties and municipalities receiving loans to match at least 50% of project costs, with loan repayment periods of up to 15 years from project completion and enforcement through withholding of homestead exemption reimbursements or sales tax distributions for delinquent payments.

• Exempts loan evidences of indebtedness from constitutional debt limits for both counties and municipalities under Sections 19-9-5 and 21-33-303.

• Requires the Mississippi Department of Transportation to file annual reports to the Legislature detailing fund expenditures, road improvement projects, and costs by county and municipality.