By: Gallego, et al. (Senate Sponsor - Uresti) H.B. No. 1753
(In the Senate - Received from the House April 11, 2011;
April 26, 2011, read first time and referred to Committee on
Business and Commerce; May 3, 2011, reported favorably by the
following vote: Yeas 8, Nays 0; May 3, 2011, sent to printer.)
A BILL TO BE ENTITLED
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.
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