MS HB1194

Amends Mississippi Code sections 51-41-1, 51-41-3, and 51-41-9 to allow for-profit entities formed solely to comply with federal or state orders to convert to water authorities, in addition to existing not-for-profit corporations and associations.

Expands the definition of "qualified corporation" to include for-profit entities created for compliance purposes, enabling them to convert to bodies politic and access tax-exempt capital markets.

Allows converted water authorities to operate as public bodies under Mississippi law while maintaining the ability to obtain lower water rates for customers through tax-exempt financing.

Permits two or more qualified corporations to jointly convert into a single water authority using the same conversion procedures.

Takes effect July 1, 2025.