MEGA Rural Act

Maximum Economic Growth for America Through Rural Transportation Investment Act or MEGA Rural Act - Establishes a program of Federal funds to assist States that face certain economic and demographic barriers in meeting transportation needs. Allocates funds for FY 2004 through 2009 to low-income States, high-growth States, low- and high-population-density States, and States with extensive road ownership.

Directs the Secretary of Transportation to establish a rural local roads safety pilot program. Allocates funds to States under a specified formula. Makes the Federal cost share 100 percent.

Provides minimum funding levels to States for FY 2004 through 2009 for: (1) transportation services for the elderly and disabled; (2) financial assistance for other than urbanized areas; and (3) financial assistance for urbanized areas with populations of less than 200,000.

Directs the Secretary to establish a program under which States provide essential bus service between rural areas and primary airports, and between rural areas and stations for intercity passenger rail service, and appropriate intermediate or nearby points.

Provides the Federal share of eligible transit project or operating costs for FY 2004 and thereafter.

Amends the Internal Revenue Code to provide for the crediting of interest to the Mass Transit Account within the Highway Trust Fund.