MS HB1386

Creates a special bond sinking fund in the State Treasury to pay principal and interest on bonds issued for repair, rehabilitation, replacement, and construction of roads and bridges in Mississippi.

Directs $50,000,000 from Deepwater Horizon oil spill settlement funds to be deposited into the special bond sinking fund during Fiscal Year 2017.

Requires $20,000,000 per fiscal year from oil spill settlement funds to be deposited into the special bond sinking fund from Fiscal Year 2019 through Fiscal Year 2033, with remaining settlement funds going to the Budget Contingency Fund.

Specifies that after July 1, 2033, all Deepwater Horizon settlement funds shall be deposited into the Budget Contingency Fund for legislative appropriation.

Provides that unexpended amounts in the special bond sinking fund do not lapse to the General Fund, and all interest earned shall remain in the sinking fund.