Senate Bill 2542

AN ACT TO AMEND SECTION 77-3-44, MISSISSIPPI CODE OF 1972, TO AUTHORIZE ANY RATE-REGULATED NATURAL GAS PUBLIC UTILITY WITH CERTIFICATED SERVICE AREA IN MISSISSIPPI TO UNDERTAKE ECONOMIC DEVELOPMENT ACTIVITIES; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Section 77-3-44, Mississippi Code of 1972, is amended as follows:

77-3-44. Any rate-regulated electric or natural gas public utility with certificated service area in Mississippi may undertake economic development activities, whether directly or indirectly, including activities such as providing capital, or investment in or acquisition and development of business or industrial sites and the necessary infrastructure or services needed to attract new or existing businesses or industry, to create or maintain employment opportunities, or otherwise to positively impact or in some manner promote the sale of electric energy or natural gas within its certificated service area. Any facilities developed, constructed or acquired in support of the activities described in this section for which a certificate of public convenience and necessity or other commission approval has been granted after * * * ~~the effective date of this act~~ July 1, 2015, as well as any capital investment in natural gas reserves made directly or indirectly by an electric or natural gas public utility to foster long-term stability in the cost of fuel, may be deemed used and useful in the provision of electric or natural gas service regardless of whether or not any end-use customers are taking service from said facilities or investment and otherwise recoverable through the utility's rates.

SECTION 2. This act shall take effect and be in force from and after its passage.