HB 50 - Electric Power Association Law Summary

• Amends Section 77-5-221 to change board of directors elections for electric power associations from three-year terms to four-year terms, effective July 1, 2024, with elections held the first Tuesday after the first Monday in November and conducted similarly to public school board elections.

• Brings forward all sections 77-5-201 through 77-5-259 of the Electric Power Association Law for comprehensive review and possible amendment, establishing a complete statutory framework for electric cooperatives in Mississippi.

• Authorizes electric power associations to serve purposes under the Mississippi Broadband Enabling Act in addition to their primary electric utility functions.

• Establishes special provisions for generation and transmission (G&T) cooperatives, including board composition requirements of two directors per member organization plus up to three at-large directors, and limits Mississippi Public Service Commission jurisdiction over G&T cooperatives to specific code sections.

• Clarifies that the Mississippi Public Service Commission shall defer to Tennessee Valley Authority regulatory authority over corporations with TVA contracts unless the commission obtains a final court judgment establishing different authority.