MS HB1092

Authorizes the Mississippi Department of Transportation (MDOT) to apply directly to the Mississippi Development Authority (MDA) for Economic Development Highway Fund assistance to construct or improve highways that encourage private economic development projects.

Requires applications include highway descriptions, committed funding sources, company letters of intent detailing the economic project, financial soundness demonstrations, vehicle traffic estimates, and certified resolutions from local governing authorities if the application is from MDOT.

Requires MDA to approve applications only if highways are necessary for project access, the project provides high economic benefits, the company is financially sound, and construction costs do not exceed available fund monies.

Prohibits Economic Development Highway Fund monies from being used for highway construction or improvement projects whose primary purpose is conducting retail sales.

Requires detailed engineering studies and certification by MDOT or the Office of State Aid Road Construction before MDA approval, and limits MDA administrative cost reimbursements from bond proceeds to three percent (3%) per project.