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.