MS SB3229

Establishes the Mississippi 2026 Severe Winter Storm Electric Utility Customer Relief and Electric Utility System Restoration Act allowing state-issued bonds to finance repair costs for electric utilities damaged by the January 23, 2026 winter storm declared a major disaster by FEMA on February 6, 2026

Electric utilities may petition the Public Service Commission within 180 days of the act's effective date for a financing order, which the commission must approve or reject within 60 days of filing

Bonds will be repaid through a "system restoration charge" collected from retail electric customers as a separate line item on their bills, with annual adjustments to ensure sufficient debt service coverage

Bond proceeds must be deposited into the Mississippi 2026 Severe Winter Storm Customer Relief and Electric Utility System Restoration Fund, with separate accounts for each participating utility to reimburse their storm-related restoration costs

Bonds may not exceed 25 years maturity, and once the sinking fund has sufficient balance to retire outstanding bonds, the State Bond Commission must retire them within 60 days and the utility must petition to cease collecting the system restoration charge