87R11373 CXP-D
By: Sanford H.B. No. 3936
A BILL TO BE ENTITLED
AN ACT
relating to the governing body and corporate officers of the
independent organization certified to manage the ERCOT power
region.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 39.151, Utilities Code, is amended by
adding Subsections (g-2) and (g-3) to read as follows:
(g-2) To qualify to serve as a member of the governing body
under Subsection (g)(4), (5), (6), or (7), a person must be a
resident of this state.
(g-3) To maintain certification as an independent
organization under this section, an organization's chief executive
officer and other corporate officers must be residents of this
state.
SECTION 2. (a) Not later than September 1, 2022, an
independent organization certified under Section 39.151, Utilities
Code, by the Public Utility Commission of Texas before September 1,
2021, shall hold elections and select new members as needed to
modify the organization's governing body to comply with Section
39.151, Utilities Code, as amended by this Act.
(b) Not later than September 1, 2022, an independent
organization certified under Section 39.151, Utilities Code, by the
Public Utility Commission of Texas before September 1, 2021, shall
ensure that the chief executive officer and other corporate
officers of the organization are residents of this state.
(c) After September 1, 2022, the Public Utility Commission
of Texas may decertify an independent organization whose governing
body, chief executive officer, or other corporate officers do not
comply with Section 39.151, Utilities Code, as amended by this Act.
SECTION 3. This Act takes effect September 1, 2021.