By Turner of Harris                                   H.B. No. 1902
         77R6788 CBH-D                           
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to the re-creation of the system benefit fund as a
 1-3     dedicated account and to the use of the account.
 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-5           SECTION 1. Sections 39.903(a) and (e), Utilities Code, are
 1-6     amended to read as follows:
 1-7           (a)  The system benefit fund is an account in the general
 1-8     revenue fund that may be appropriated only for the purposes
 1-9     provided by this section.  Interest earned on the system benefit
1-10     fund shall be credited to [created as a trust fund with the
1-11     comptroller and shall be administered by the commission as trustee
1-12     on behalf of the recipients of money from] the fund.
1-13           (e)  The system benefit fund may be appropriated to [shall]
1-14     provide funding solely for the following regulatory purposes:
1-15                 (1)  programs to assist low-income electric customers
1-16     provided by Subsections (f)-(l);
1-17                 (2)  customer education programs; [and]
1-18                 (3)  the school funding loss mechanism provided by
1-19     Section 39.901; and
1-20                 (4)  administrative expenses incurred in implementing
1-21     this chapter.
1-22           SECTION 2.  This Act takes effect immediately if it receives
1-23     a vote of two-thirds of all the members elected to each house, as
1-24     provided by Section 39, Article III, Texas Constitution.  If this
 2-1     Act does not receive the vote necessary for immediate effect, this
 2-2     Act takes effect September 1, 2001.