| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 87R11149 MCF-F | |
| 2 | 2 | By: González of Dallas H.B. No. 4424 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the consideration of employee compensation and benefits | |
| 8 | 8 | in establishing the rates of gas utilities. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Section 104.060(a), Utilities Code, is amended | |
| 11 | 11 | to read as follows: | |
| 12 | 12 | (a) In this section, "employee compensation and benefits" | |
| 13 | 13 | includes base salaries, wages, [incentive compensation,] and | |
| 14 | 14 | benefits. The term does not include[: | |
| 15 | 15 | [(1)] pension or other postemployment benefits[; | |
| 16 | 16 | and | |
| 17 | 17 | [(2) incentive compensation related to attaining | |
| 18 | 18 | financial metrics for an executive officer whose compensation is | |
| 19 | 19 | required to be disclosed under 17 C.F.R. Section 229.402(a)]. | |
| 20 | 20 | SECTION 2. This Act takes effect immediately if it receives | |
| 21 | 21 | a vote of two-thirds of all the members elected to each house, as | |
| 22 | 22 | provided by Section 39, Article III, Texas Constitution. If this | |
| 23 | 23 | Act does not receive the vote necessary for immediate effect, this | |
| 24 | 24 | Act takes effect September 1, 2021. |