AN ACT
1-1 relating to certain transactions by a gas utility.
1-2 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-3 SECTION 1. Subsection (a), Section 102.051, Utilities Code,
1-4 is amended to read as follows:
1-5 (a) Unless a gas utility reports the transaction to the
1-6 railroad commission within a reasonable time, the gas utility may
1-7 not:
1-8 (1) sell, acquire, or lease a plant as an operating
1-9 unit or system in this state for a total consideration of more than
1-10 $1 million [$100,000]; or
1-11 (2) merge or consolidate with another gas utility
1-12 operating in this state.
1-13 SECTION 2. Section 102.054, Utilities Code, is repealed.
1-14 SECTION 3. The change in law made by this Act applies only
1-15 to a transaction occurring on or after the effective date of this
1-16 Act. A transaction occurring before the effective date of this
1-17 Act is governed by the law in effect when the transaction occurred,
1-18 and the former law is continued in effect for that purpose.
1-19 SECTION 4. This Act takes effect September 1, 1999.
1-20 SECTION 5. The importance of this legislation and the
1-21 crowded condition of the calendars in both houses create an
1-22 emergency and an imperative public necessity that the
1-23 constitutional rule requiring bills to be read on three several
1-24 days in each house be suspended, and this rule is hereby suspended.
_______________________________ _______________________________
President of the Senate Speaker of the House
I hereby certify that S.B. No. 816 passed the Senate on
March 18, 1999, by the following vote: Yeas 31, Nays 0.
_______________________________
Secretary of the Senate
I hereby certify that S.B. No. 816 passed the House on
April 16, 1999, by a non-record vote.
_______________________________
Chief Clerk of the House
Approved:
_______________________________
Date
_______________________________
Governor