Mississippi Transit Corporation; establish.

HB 427 establishes the Mississippi Transit Corporation as an independent state agency within the Department of Transportation, responsible for providing safe, reliable, and cost-effective bus, rail, and light rail transit services across Mississippi. The corporation is governed by a 17-member board of directors, including state officials (House Speaker, Lieutenant Governor, Transportation Department Executive Director), airport chair, and city-appointed members from Jackson, Meridian, Vicksburg, Canton, Clinton, and Madison, plus a transit user representative. Board members must have transit experience or transportation expertise, serve staggered four-year terms without pay (reimbursed for expenses), and hold at least 10 public meetings annually. This bill directly affects Mississippians who rely on public transit and local governments in the specified cities by creating a centralized agency to manage and improve statewide transit services.