MS HB1202

Authorizes for-profit entities formed solely to comply with federal or state orders concerning potable water sale, transmission, or distribution to convert to water authorities (bodies politic).

Expands the definition of "qualified corporation" to include for-profit entities created for compliance purposes, in addition to existing not-for-profit corporations and associations.

Allows converting entities to access tax-exempt capital markets and provide water services at the lowest possible rates to the public.

Requires converting entities to file a resolution, application for reconstitution, bylaws, and other documentation with the Secretary of State, along with a reasonable filing fee not exceeding standard incorporation fees.

Takes effect July 1, 2025.