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	Amend SB 483 on third reading by adding the following 
SECTIONS, appropriately numbered, and renumbering the subsequent 
SECTIONS of the bill accordingly:
	SECTION ____.  Section 39.904, Utilities Code, is amended by 
amending Subsection (m) and adding Subsections (m-1), (m-2), and 
(m-3) to read as follows:
	(m)  A renewable energy credit retired for purposes other 
than to meet the requirements of Subsection (c)(1) may not affect 
the minimum annual renewable energy requirement under Subsection 
(c)(1) for a retail electric provider, municipally owned utility, 
or electric cooperative.
	(m-1)  As provided by this subsection, the commission shall 
reduce the requirement under Subsection (c)(1) for a retail 
electric provider, municipally owned utility, or electric 
cooperative that is subject to a renewable energy requirement under 
this section and that serves a customer receiving electric service 
at transmission-level voltage if, before any year for which the 
commission calculates renewable energy requirements under 
Subsection (c)(1), the customer notifies the commission in writing 
that the customer chooses not to support the goal for renewable 
energy generation under this section for that year.  The commission 
shall exclude from the calculation of a retail electric provider's, 
municipally owned utility's, or electric cooperative's requirement 
under Subsection (c)(1) energy sold by the retail electric 
provider, municipally owned utility, or electric cooperative at 
transmission-level voltage to customers who have submitted the 
notice to the commission under this subsection for the applicable 
year.
	(m-2)  The commission shall determine the reporting 
requirements and schedule necessary to implement Subsections (m) 
and (m-1).
	(m-3)  Subsections (m), (m-1), and (m-2) do not alter the 
renewable energy goals or targets established in Subsection (a) or 
reduce the minimum statewide renewable energy requirements of 
Subsection (c)(1) [Notwithstanding any other provision of law, the 
commission shall ensure that all renewable capacity installed in 
this state and all renewable energy credits awarded, produced, 
procured, or sold from renewable capacity in this state are counted 
toward the goal in Subsection (a)].
	SECTION ____.  (a)  The Public Utility Commission of Texas 
shall conduct a study of the effect that Section 39.904, Utilities 
Code, has had on:
		(1)  market power in this state; and                                          
		(2)  the rates paid for electricity by residential 
customers in this state. 
	(b)  Not later than January 1, 2009, the Public Utility 
Commission of Texas shall prepare and present to the governor, 
lieutenant governor, and speaker of the house of representatives a 
report describing the results of the study that specifies any 
changes in market power and any costs to or savings for residential 
customers because of the implementation of Section 39.904, 
Utilities Code.