MS HB1116

Amends Chapter 558, Laws of 2012 to redirect Deepwater Horizon settlement funds from the Budget Contingency Fund to a new "Deepwater Horizon Oil Disaster Fund" in the State Treasury.

Requires all settlement and recovery funds received by Mississippi for economic and punitive damages from the Deepwater Horizon oil spill be deposited into the special fund for legislative appropriation to the Mississippi Department of Transportation.

Allocates fund distributions as follows: 45% for state-maintained bridges of greatest need, 45% to the Office of State Aid Road Construction for the State Aid Road Program, and 5% to the Mississippi Transportation Commission for railroad acquisition.

Excludes any settlement funds that are required to be paid to other public entities from deposit into the special fund.

Becomes effective upon passage.