Maximum Economic Growth for America Through Highway Funding Act (MEGA Fund Act) - Authorizes appropriations out of the Highway Trust Fund (HTF) (other than the Mass Transit Account) for various programs, including the Interstate Maintenance Program, the National Highway System, the Bridge Program, the Surface Transportation Program, the Congestion Mitigation and Air Quality Improvement Program, the Appalachian Development Highway System Program, the Recreational Trails Program, and the High Priority Projects Program. Requires deductions from program apportionments for a future strategic highway research program.

Expresses the sense of the Senate that the provisions of budget legislation pertaining to the highway program should be amended to: (1) improve predictability and stability in the levels of highway program obligation authority; (2) facilitate the expenditure of funds in the HTF (other than the Mass Transit Account); and (3) eliminate the possibility of reductions in the levels of highway program obligation authority being imposed automatically so that any reductions are solely the prerogative of Congress.

Expresses the sense of the Senate that the Act reauthorizing highway, highway safety, and transit programs for fiscal years beginning with FY 2004 should include appropriate budgetary protections for highway safety and transit programs.

Establishes a program to assist States that face certain economic and demographic barriers in meeting transportation needs.

Amends the Transportation Equity Act for the 21st Century (TEA Act) to provide certain minimum allocations to border States.

Establishes the cooperative Federal lands transportation program for projects on highways that: (1) are State owned or maintained; and (2) cross, are adjacent to, or lead to federally owned land or Indian reservations.