Texas 2017 - 85th Regular

Texas House Bill HB2235 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New	Differences
1	1	85R8499 DMS-F
2	2	By: Murphy, Anderson of McLennan, et al. H.B. No. 2235
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5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to accounting principles applicable to pension and other
8	8	postemployment benefit expenses for electric utilities.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. Section 36.065(b), Utilities Code, is amended to
11	11	read as follows:
12	12	(b) An [Effective January 1, 2005, an] electric utility may
13	13	establish one or more reserve accounts for expenses for pension and
14	14	other postemployment benefits. An electric utility shall
15	15	periodically record in the reserve account any difference between:
16	16	(1) the annual amount of pension and other
17	17	postemployment benefits approved as an [operating] expense in the
18	18	electric utility's last general rate proceeding or, if that amount
19	19	cannot be determined from the regulatory authority's order, the
20	20	amount recorded for pension and other postemployment benefits under
21	21	generally accepted accounting principles during the first year that
22	22	rates from the electric utility's last general rate proceeding are
23	23	in effect; and
24	24	(2) the annual amount of pension and other
25	25	postemployment benefits as determined by actuarial or other similar
26	26	studies that are chargeable to the electric utility's [operating]
27	27	expense.
28	28	SECTION 2. This Act takes effect immediately if it receives
29	29	a vote of two-thirds of all the members elected to each house, as
30	30	provided by Section 39, Article III, Texas Constitution. If this
31	31	Act does not receive the vote necessary for immediate effect, this
32	32	Act takes effect September 1, 2017.