1-1 By: Brown S.B. No. 816
1-2 (In the Senate - Filed March 2, 1999; March 4, 1999, read
1-3 first time and referred to Committee on Natural Resources;
1-4 March 11, 1999, reported favorably by the following vote: Yeas 4,
1-5 Nays 0; March 11, 1999, sent to printer.)
1-6 A BILL TO BE ENTITLED
1-7 AN ACT
1-8 relating to certain transactions by a gas utility.
1-9 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-10 SECTION 1. Subsection (a), Section 102.051, Utilities Code,
1-11 is amended to read as follows:
1-12 (a) Unless a gas utility reports the transaction to the
1-13 railroad commission within a reasonable time, the gas utility may
1-14 not:
1-15 (1) sell, acquire, or lease a plant as an operating
1-16 unit or system in this state for a total consideration of more than
1-17 $1 million [$100,000]; or
1-18 (2) merge or consolidate with another gas utility
1-19 operating in this state.
1-20 SECTION 2. Section 102.054, Utilities Code, is repealed.
1-21 SECTION 3. The change in law made by this Act applies only
1-22 to a transaction occurring on or after the effective date of this
1-23 Act. A transaction occurring before the effective date of this
1-24 Act is governed by the law in effect when the transaction occurred,
1-25 and the former law is continued in effect for that purpose.
1-26 SECTION 4. This Act takes effect September 1, 1999.
1-27 SECTION 5. The importance of this legislation and the
1-28 crowded condition of the calendars in both houses create an
1-29 emergency and an imperative public necessity that the
1-30 constitutional rule requiring bills to be read on three several
1-31 days in each house be suspended, and this rule is hereby suspended.
1-32 * * * * *