Amend CSSB 7 as follows:
      (1)  In Section 39.301, Utilities Code, in SECTION 33 of the
bill (Committee Printing page 34, line 19) add at the end of the
section after the period, "The savings associated with
securitization shall work to the benefit of ratepayers.  The amount
securitized may not exceed the present value of the revenue
requirement over the life of the proposed transition bond
associated with the regulatory assets or stranded costs sought to
be securitized.  The present value calculation shall use a discount
rate equal to the proposed interest rate on the transition bonds."
      (2)  In Section 39.262(a), Utilities Code, in SECTION 33 of
the bill (Committee Printing page 30, line 28) strike the word
"subchapter" and substitute "chapter".