| 1 | 1 | | By: Gallego, et al. (Senate Sponsor - Uresti) H.B. No. 1753 |
|---|
| 2 | 2 | | (In the Senate - Received from the House April 11, 2011; |
|---|
| 3 | 3 | | April 26, 2011, read first time and referred to Committee on |
|---|
| 4 | 4 | | Business and Commerce; May 3, 2011, reported favorably by the |
|---|
| 5 | 5 | | following vote: Yeas 8, Nays 0; May 3, 2011, sent to printer.) |
|---|
| 6 | 6 | | |
|---|
| 7 | 7 | | |
|---|
| 8 | 8 | | A BILL TO BE ENTITLED |
|---|
| 9 | 9 | | AN ACT |
|---|
| 10 | 10 | | relating to the threshold amount at which public utilities are |
|---|
| 11 | 11 | | required to report a transaction. |
|---|
| 12 | 12 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 13 | 13 | | SECTION 1. Section 14.101(a), Utilities Code, is amended to |
|---|
| 14 | 14 | | read as follows: |
|---|
| 15 | 15 | | (a) Unless a public utility reports the transaction to the |
|---|
| 16 | 16 | | commission within a reasonable time, the public utility may not: |
|---|
| 17 | 17 | | (1) sell, acquire, or lease a plant as an operating |
|---|
| 18 | 18 | | unit or system in this state for a total consideration of more than |
|---|
| 19 | 19 | | $10 million [$100,000]; or |
|---|
| 20 | 20 | | (2) merge or consolidate with another public utility |
|---|
| 21 | 21 | | operating in this state. |
|---|
| 22 | 22 | | SECTION 2. The change in law made by this Act applies only |
|---|
| 23 | 23 | | to an agreement for the sale, acquisition, or lease of a plant that |
|---|
| 24 | 24 | | is entered into on or after the effective date of this Act. An |
|---|
| 25 | 25 | | agreement for the sale, acquisition, or lease of a plant that is |
|---|
| 26 | 26 | | entered into before the effective date of this Act is governed by |
|---|
| 27 | 27 | | the law applicable to the agreement immediately before the |
|---|
| 28 | 28 | | effective date of this Act, and that law is continued in effect for |
|---|
| 29 | 29 | | that purpose. |
|---|
| 30 | 30 | | SECTION 3. This Act takes effect September 1, 2011. |
|---|
| 31 | 31 | | * * * * * |
|---|