MS SB2220

Defines "generation and transmission cooperative" (G&T cooperative) as a wholesale power supply cooperative whose members are retail electric service providers with certificates of public convenience and necessity.

Allows G&T cooperatives to amend their certificate of incorporation with a two-thirds board vote, bypassing member approval requirements, and permits changes to corporate name, number of directors, and other provisions.

Establishes G&T cooperative board structure with two directors per member (one general manager/CEO and one sitting director) plus up to three at-large directors elected by the board, with three-year terms and authority to provide compensation and expense reimbursement.

Authorizes G&T cooperatives to provide capacity and energy to regional transmission markets and independent system operators if beneficial to membership, operate across state lines, and provide support services to members including accounting, legal, regulatory, and engineering expertise.

Limits G&T cooperative regulation by the Mississippi Public Service Commission to specific code sections (77-3-11, 77-3-13, 77-3-14, 77-3-23, 77-3-25, 77-3-27, and 77-3-45) while subjecting them to Federal Energy Regulatory Commission, Rural Utilities Service, and North American Electric Reliability Corporation oversight, effective July 1, 2016.