MS HB931

Establishes the Mississippi Transit Corporation as an independent state entity to provide bus, rail, and light rail transit services, governed by a 17-member board including state officials and mayoral appointees from Canton, Clinton, Jackson, Madison, Meridian, and Vicksburg

Grants the corporation broad powers including issuing bonds and notes, setting fares, acquiring property, entering public-private partnerships, and levying a regional transit tax within its service area

Requires a minimum of 10 public board meetings annually and mandates public hearings before implementing fare increases (at least 10 hearings) or substantially curtailing/abandoning transit services (at least 2 hearings in affected counties)

Mandates State Auditor audits at least every 72 months, independent financial management studies every 5 years, and annual reports to the Governor and Legislature detailing operations, finances, ridership, and on-time performance

Requires board members to complete fiduciary responsibility training within 6 months of appointment and prohibits board members from serving in executive management positions at the corporation