MS HB1261

Authorizes the Mississippi Department of Transportation, political subdivisions, and municipalities to form public-private partnerships for highway, road, bridge, and asset improvements by offering naming rights in exchange for private funding assistance.

Requires all public-private partnership agreements to be approved by the Mississippi Transportation Commission and prohibits agreements with entities whose products are illegal for use by persons under 18 years of age.

Establishes a special fund in the State Treasury for the Department of Transportation to deposit and manage funds received from naming rights agreements, with revenues dedicated to capital improvements of rest areas, visitor centers, and welcome centers statewide.

Allows unexpended monies in the special fund to carry over at the end of each fiscal year without lapsing into the State General Fund, with all interest and investment earnings deposited back into the fund.

Takes effect July 1, 2025.