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A BILL TO BE ENTITLED
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AN ACT
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relating to an annual audit of the independent organization |
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certified for the ERCOT power region. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter D, Chapter 39, Utilities Code, is |
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amended by adding Section 39.159 to read as follows: |
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Sec. 39.159. AUDIT OF INDEPENDENT ORGANIZATION CERTIFIED |
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FOR ERCOT POWER REGION. (a) The commission annually shall have an |
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independent audit made of each independent organization certified |
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under Section 39.151 for the ERCOT power region. |
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(b) An audit under this section must examine: |
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(1) the independent organization's financial |
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condition, including the organization's budget and expenses, and |
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the salaries of the organization's employees and board members; and |
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(2) compliance of the independent organization's |
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assets with all applicable commission standards. |
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(c) Not later than the 60th day after the date an audit under |
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this section is completed the commission shall: |
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(1) publish the results of the audit on the |
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commission's Internet website; and |
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(2) submit the results of the audit to the state |
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auditor and members of the standing committees of the legislature |
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with primary jurisdiction over the commission. |
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SECTION 2. This Act takes effect September 1, 2021. |