MS HB499

Reenacts sections 77-1-1 through 77-1-49 of the Mississippi Code establishing the Public Service Commission with three members elected from Supreme Court districts, their qualifications, duties, and enforcement powers.

Extends the repeal date of the Public Service Commission's statutory foundation from December 31, 2016 to December 31, 2018.

Extends the repeal date for Section 77-1-55 authorizing the Public Service Commission and Public Utilities Staff to hire attorneys and consultants for interstate rate proceedings from July 1, 2016 to July 1, 2018, with a cost cap of $1,500,000 per agency per affected utility per twelve-month period.

Prohibits commissioners and staff from accepting gifts, money, or benefits from regulated utilities, with violations resulting in forfeiture of office and fines of at least $5,000 and/or imprisonment of at least one year.

Establishes the Public Service Commission Regulation Fund as the sole fund for the commission's operations and requires annual audits by the State Auditor.