MS HB1294

Prohibits the state, municipalities, and political subdivisions from exercising eminent domain over facilities of qualified corporations or water authorities unless the Public Service Commission cancels their certificate of public convenience and necessity

Exempts water authorities created under Chapter 41, Title 51 from Public Service Commission rate regulation for water and sewer services, similar to existing exemptions for municipalities and nonprofit corporations

Allows nonprofit water and sewer service corporations to convert from private corporate status to public "body politic" status (water authorities), enabling access to tax-exempt capital markets

Expands the scope of eligible entities to include those providing sewer services in addition to water services

Effective date of July 1, 2012