MS HB702

Authorizes the Mississippi Department of Transportation, political subdivisions, and municipalities to form public-private partnerships allowing private entities to fund highway, road, bridge, or asset improvements in exchange for naming rights on those infrastructure sections.

Requires Mississippi Transportation Commission approval of all public-private partnership agreements and prohibits the commission from approving or the department from entering agreements with entities whose products are illegal for use by persons under 18 years of age.

Requires all funds received from public-private partnership agreements to be deposited into a special fund managed by the department and used exclusively for capital improvements to rest areas, visitor centers, and welcome centers throughout the state.

Establishes a special fund in the State Treasury for monies collected under this section, with unexpended funds not lapsing into the General Fund at fiscal year end and any interest earnings deposited back into the fund.

Takes effect July 1, 2024.