MS HB794

Creates the "Mississippi Public-Private Partnership Act of 2018" establishing a framework for public-private partnerships (P3s) on qualifying projects exceeding $10 million with estimated costs in infrastructure, civic facilities, transportation, utilities, and similar public facilities.

Establishes a 9-member P3 Review Board to review and approve all P3 agreements, promulgate regulations by July 1, 2019, and oversee a standardized process for project solicitation, evaluation, and delivery including timeframes for public outreach and review.

Authorizes responsible public entities (State of Mississippi, agencies, State Institutions of Higher Learning) to enter into P3 agreements using various delivery methods including design-build, design-build-finance-operate-maintain, concessions, and other innovative contracting methods for up to 50 years (or 70 years with Board approval for extraordinary projects).

Exempts P3 agreements from traditional public bidding requirements under Chapter 7, Title 31, and provides tax exemptions for bonds, obligations, and property associated with qualifying projects.

Requires independent audits of selected proposals, chief executive findings of public interest, notification to affected jurisdictions with 60-day comment periods, and validation of P3 agreements through chancery court proceedings before execution.