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A BILL TO BE ENTITLED
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AN ACT
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relating to authority of an electric cooperative to use unclaimed |
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money to assist low-income customers in paying their electric |
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bills. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter D, Chapter 74, Property Code, is |
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amended by adding Section 74.3014 to read as follows: |
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Sec. 74.3014. DELIVERY OF MONEY FOR ELECTRIC BILL |
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ASSISTANCE FOR LOW-INCOME CUSTOMERS. (a) In this section, |
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"electric cooperative" has the meaning assigned by Section 11.003, |
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Utilities Code. |
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(b) Notwithstanding and in addition to any other provision |
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of this chapter or other law, an electric cooperative may deliver |
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reported money to a fund established by the cooperative to assist |
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low-income customers in paying their electric bills instead of |
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delivering the money to the comptroller as prescribed in Section |
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74.301. |
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(c) An electric cooperative shall file with the comptroller |
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a verification of money delivered under this section that complies |
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with Section 74.302. |
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(d) A claim for money delivered under this section must be |
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filed with the electric cooperative that delivered the money. The |
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electric cooperative shall pay the claim if the cooperative |
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determines in good faith that the claim is valid. A person |
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aggrieved by a claim decision may file a suit against the |
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cooperative in a district court in a county in which the cooperative |
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is located in accordance with Section 74.506. |
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(e) The comptroller shall prescribe forms and procedures |
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governing this section, including forms and procedures relating to: |
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(1) notice of presumed abandoned property; |
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(2) delivery of reported money to the fund; and |
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(3) filing of a claim. |
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SECTION 2. This Act takes effect September 1, 2007. |