By Brown S.B. No. 816
76R6333 DWS-F
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to certain transactions by a gas utility.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Section 102.051(a), Utilities Code, is amended to
1-5 read as follows:
1-6 (a) Unless a gas utility reports the transaction to the
1-7 railroad commission within a reasonable time, the gas utility may
1-8 not:
1-9 (1) sell, acquire, or lease a plant as an operating
1-10 unit or system in this state for a total consideration of more than
1-11 $1 million [$100,000]; or
1-12 (2) merge or consolidate with another gas utility
1-13 operating in this state.
1-14 SECTION 2. Section 102.054, Utilities Code, is repealed.
1-15 SECTION 3. The change in law made by this Act applies only
1-16 to a transaction occurring on or after the effective date of this
1-17 Act. A transaction occurring before the effective date of this
1-18 Act is governed by the law in effect when the transaction occurred,
1-19 and the former law is continued in effect for that purpose.
1-20 SECTION 4. This Act takes effect September 1, 1999.
1-21 SECTION 5. The importance of this legislation and the
1-22 crowded condition of the calendars in both houses create an
1-23 emergency and an imperative public necessity that the
1-24 constitutional rule requiring bills to be read on three several
2-1 days in each house be suspended, and this rule is hereby suspended.