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79R10448 MTB-D


By:  Puente                                                       H.B. No. 1698

Substitute the following for H.B. No. 1698:                                   

By:  Baxter                                                   C.S.H.B. No. 1698



A BILL TO BE ENTITLED

AN ACT

relating to the authority of certain municipal electric utilities 
to invest funds held in a decommissioning trust.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Subchapter A, Chapter 2256, Government Code, is 
amended by adding Section 2256.0205 to read as follows:
	Sec. 2256.0205.  AUTHORIZED INVESTMENTS; DECOMMISSIONING 
TRUST. (a) In this section:
		(1)  "Decommissioning trust" means a trust created to 
provide the Nuclear Regulatory Commission assurance that funds will 
be available for decommissioning purposes as required under 10 
C.F.R. Part 50 or other similar regulation.
		(2)  "Funds" includes any money held in a 
decommissioning trust regardless of whether the money is considered 
to be public funds under this subchapter.
	(b)  In addition to other investments authorized under this 
subchapter, a municipality that owns a municipal electric utility 
that is engaged in the distribution and sale of electric energy or 
natural gas to the public may invest funds held in a decommissioning 
trust in any investment authorized by Subtitle B, Title 9, Property 
Code.
	SECTION 2.  This Act takes effect immediately if it receives 
a vote of two-thirds of all the members elected to each house, as 
provided by Section 39, Article III, Texas Constitution.  If this 
Act does not receive the vote necessary for immediate effect, this 
Act takes effect September 1, 2005.