79R8180 JJT-D

By:  Kolkhorst                                                    H.B. No. 2076

relating to the use of revenue generated by municipally owned electric utilities. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Subchapter A, Chapter 33, Utilities Code, is amended by adding Section 33.009 to read as follows: Sec. 33.009. NOTIFICATION REGARDING DIVERSION OF REVENUE. (a) A municipally owned utility that diverts revenue derived from the provision of electric service to a general municipal fund or to another municipal fund or account that may be spent for a purpose that is unrelated to the costs of the utility's provision of electric service and the municipality that receives the diverted revenue jointly shall publish a notice that contains: (1) the percentage of the utility's annual revenues derived from the provision of electric service that the amount diverted represents; (2) the total amount of revenue diverted during the municipality's most recent fiscal year and the amount of revenue diverted to each municipal fund or account during that fiscal year; and (3) the percentage of the municipality's budget for the most recent fiscal year that the amount of diverted revenues represents. (b) The notice must be published: (1) not later than the 31st day after the final day of the municipality's fiscal year; and (2) in a newspaper having general circulation in the municipality. (c) The notice must be prominently placed in the newspaper and must be plainly stated in clear language. SECTION 2. This Act takes effect September 1, 2005.