Amend Amendment No. 1 by King to CSSB 408 as follows:
(1) In item (12) of the amendment, in the recital to the
unnumbered SECTION that amends Section 39.151, Utilities Code (page
2, line 31), strike "Subsections (d-1) and (g-1)" and substitute
"Subsection (g-1)".
(2) In item (12) of the amendment, strike Subsections (c),
(d), (d-1), and (e), Section 39.151, Utilities Code, as amended by
the unnumbered SECTION (page 3, line 9, through page 5, line 18),
and substitute the following:
(c) The commission shall certify an independent organization
or organizations to perform the functions prescribed by this
section. The commission has complete authority to oversee, require
the commission's approval of, and order modifications of any part
of the finances, budget, or operations of an independent
organization certified under this section.
(d) An independent organization certified by the commission
for a power region shall establish and enforce procedures,
consistent with this title and the commission's rules, relating to
the reliability of the regional electrical network and accounting
for the production and delivery of electricity among generators and
all other market participants. The procedures shall be subject to
commission oversight and review. An independent organization
certified by the commission is directly responsible and accountable
to the commission. The organization shall fully cooperate with the
commission in the commission's oversight and investigatory
functions. The commission may decertify an organization that does
not adequately perform the organization's functions or duties or
does not comply with this section.
(e) The commission by rule shall require an independent
organization certified under this section to provide the commission
with sufficiently detailed information to allow the commission to
review and approve or disapprove the independent organization's
budget for cost efficiencies and for the reasonableness and
necessity of budget items. The rules must include a timetable for
an independent organization to file its budget for review under the
rules. The commission's budget review must include a review of
salaries, employee benefits, and the independent organization's
use of debt financing. After determining the overall
reasonableness and necessity of an independent organization's
budget, the [The] commission, in the same proceeding, may authorize
the [an] independent organization [that is certified under this
section] to charge [a reasonable and competitively neutral rate] to
wholesale buyers and sellers a reasonable and competitively neutral
rate determined by the commission to allow [cover] the independent
organization a reasonable opportunity to take in a reasonable and
necessary amount of revenue, as determined by the commission in the
budget review process. The independent organization may change the
rate established by the commission in the budget review process
only with the commission's approval. On the commission's own
initiative or on receiving a complaint, the commission may inquire
into the reasonableness of an independent organization's budget or
rate [costs].