H.B. No. 1753
AN ACT
relating to the threshold amount at which public utilities are
required to report a transaction.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 14.101(a), Utilities Code, is amended to
read as follows:
(a) Unless a public utility reports the transaction to the
commission within a reasonable time, the public utility may not:
(1) sell, acquire, or lease a plant as an operating
unit or system in this state for a total consideration of more than
$10 million [$100,000]; or
(2) merge or consolidate with another public utility
operating in this state.
SECTION 2. The change in law made by this Act applies only
to an agreement for the sale, acquisition, or lease of a plant that
is entered into on or after the effective date of this Act. An
agreement for the sale, acquisition, or lease of a plant that is
entered into before the effective date of this Act is governed by
the law applicable to the agreement immediately before the
effective date of this Act, and that law is continued in effect for
that purpose.
SECTION 3. This Act takes effect September 1, 2011.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 1753 was passed by the House on April
7, 2011, by the following vote: Yeas 144, Nays 0, 1 present, not
voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 1753 was passed by the Senate on May
10, 2011, by the following vote: Yeas 31, Nays 0
.
______________________________
Secretary of the Senate
APPROVED: _____________________
Date
_____________________
Governor