S.B. No. 734
AN ACT
relating to the setting of annual interest rates for utility
deposits by the Public Utility Commission of Texas.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 183.003, Utilities Code, is amended to
read as follows:
Sec. 183.003. RATE OF INTEREST. The commission on or before
each December 1[, or the next regular workday if December 1 is a
Saturday, Sunday, or legal holiday,] shall set the annual interest
rate for the next calendar year on deposits governed by this chapter
at the average rate paid over the previous 12-month period on United
States treasury bills with a 26-week maturity.
SECTION 2. This Act takes effect September 1, 2015.
______________________________ ______________________________
President of the Senate Speaker of the House
I hereby certify that S.B. No. 734 passed the Senate on
April 9, 2015, by the following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
I hereby certify that S.B. No. 734 passed the House on
May 21, 2015, by the following vote: Yeas 143, Nays 0, two
present not voting.
______________________________
Chief Clerk of the House
Approved:
______________________________
Date
______________________________
Governor