H.B. No. 2586
AN ACT
relating to an annual audit of the independent organization
certified for the ERCOT power region.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter D, Chapter 39, Utilities Code, is
amended by adding Section 39.159 to read as follows:
Sec. 39.159. AUDIT OF INDEPENDENT ORGANIZATION CERTIFIED
FOR ERCOT POWER REGION. (a) The commission annually shall have an
independent audit made of each independent organization certified
under Section 39.151 for the ERCOT power region.
(b) An audit under this section must examine:
(1) the independent organization's financial
condition, including the organization's budget and expenses, and
the salaries of the organization's employees and board members; and
(2) compliance of the independent organization's
assets with all applicable commission standards.
(c) Not later than the 60th day after the date an audit under
this section is completed the commission shall:
(1) publish the results of the audit on the
commission's Internet website; and
(2) submit the results of the audit to the state
auditor and members of the standing committees of the legislature
with primary jurisdiction over the commission.
SECTION 2. This Act takes effect September 1, 2021.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 2586 was passed by the House on April
9, 2021, by the following vote: Yeas 145, Nays 0, 1 present, not
voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 2586 was passed by the Senate on May
11, 2021, by the following vote: Yeas 30, Nays 0.
______________________________
Secretary of the Senate
APPROVED: _____________________
Date
_____________________
Governor