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A BILL TO BE ENTITLED
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AN ACT
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relating to administration of the system benefit fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subsections (a) and (d), Section 39.903, |
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Utilities Code, are amended to read as follows: |
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(a) The system benefit fund is an account in the general |
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revenue fund. Money in the account may be appropriated only for the |
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purposes provided by this section [or other law]. Interest earned |
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on the system benefit fund shall be credited to the fund. Section |
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403.095, Government Code, does not apply to the system benefit |
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fund. |
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(d) The commission shall annually review and approve system |
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benefit fund accounts, projected revenue requirements, and |
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proposed nonbypassable fees. The commission shall set the proposed |
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nonbypassable fees at an amount that is sufficient to ensure that |
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funding and cash flow are available for the purposes for which funds |
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have been appropriated. The commission shall report to the |
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electric utility restructuring legislative oversight committee if |
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the system benefit fund fee is insufficient to fund the purposes set |
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forth in Subsection (e) to the extent required by this section. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2007. |