MS HB857

Amends Section 77-3-87 of the Mississippi Code to clarify that the public utilities regulatory assessment levied on utilities shall not exceed the total legislative appropriation for the Public Utilities Staff and Public Service Commission regulation funds.

Requires the Department of Revenue to deposit all collected assessment proceeds into the State General Fund rather than into separate regulatory fund accounts.

Maintains the current tax rate of 164/1000 of 1% per year on gross revenues from intrastate utility operations, with a reduced rate of 90/1000 of 1% for electric power associations and rural electrification authorities.

Preserves utilities' right to recover the total assessment amount through rate adjustment clauses or riders to ratepayers.

Takes effect January 1, 2017.