HB1261: Transportation funding; authorize public-private partnerships to include naming rights.

Legislative Summary

An Act To Provide That The Mississippi Department Of Transportation, A Political Subdivision Of The State Or A Municipality Of The State May Form A Public-private Partnership For A Highway, Road, Bridge Or Other Asset Improvement By Which The Department, Political Subdivision Or Municipality May Negotiate For Private Funding Assistance Toward A Highway, Road, Bridge Or Other Asset Improvement In Exchange For Naming Rights Of The Section Of Highway, Road, Bridge Or Other Asset For Which The Private Funding Assistance Was Provided; To Prohibit The Commission From Approving And The Department From Entering Into Any Agreement With An Entity Whose Products Are Illegal For Use By Minors; To Prescribe The Purposes For Which Funds Derived From Such Agreements For Naming Rights May Be Used; To Create A Special Fund In The State Treasury For The Deposit Of Such Funds To Be Retained And Managed By The Department For The Purposes Of This Act; And For Related Purposes.