MS SB2433

Exempts eligible homeowners associations from utility regulation when distributing water only to their own residents, regardless of whether the subdivision is within a Certificate of Public Convenience and Necessity area held by an eligible municipality.

Defines "eligible municipality" as any municipality with a population greater than 100,000 that has been subject to litigation by the U.S. Environmental Protection Agency for Safe Drinking Water Act violations.

Defines "eligible homeowners association" as associations in subdivisions constructed before 1970 outside municipal boundaries, subsequently annexed by an eligible municipality, with an adjacent groundwater well system originally designed to supply the subdivision.

Requires eligible municipalities to sell water assets within the subdivision at fair market value (determined by independent appraisal) to homeowners associations choosing to provide water service, and automatically grants easements for asset maintenance in municipal roads and rights-of-way.

Maintains the eligible municipality's obligation to continue providing sewer services, emergency water service until the association is ready, and emergency fire suppression services to the subdivision.