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A BILL TO BE ENTITLED
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AN ACT
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relating to disclosure of financial statements and other financial |
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information by retail utility providers. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter A, Chapter 14, Utilities Code, is |
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amended by adding Section 14.009 to read as follows: |
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Sec. 14.009. DISCLOSURE OF FINANCIAL INFORMATION. (a) In |
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this section, "retail provider" means a public or private provider |
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of retail electric or telecommunications services. The term |
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includes: |
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(1) a public utility; |
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(2) a cooperative corporation; |
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(3) a municipally owned utility; |
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(4) a retail electric provider, as defined by Section |
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31.002; and |
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(5) a telecommunications provider, as defined by |
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Section 51.002. |
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(b) A retail provider shall submit to the commission an |
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annual financial statement and other financial information for that |
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provider, including information relating to the profit gained from |
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customer late payment fees and penalties. |
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(c) The commission by rule shall prescribe: |
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(1) the information and detail to be submitted; and |
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(2) the form and time for a provider to submit the |
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information. |
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(d) The information submitted to the commission under this |
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section is public information. |
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SECTION 2. Subchapter D, Chapter 102, Utilities Code, is |
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amended by adding Section 102.155 to read as follows: |
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Sec. 102.155. DISCLOSURE OF FINANCIAL INFORMATION. (a) In |
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this section, "retail provider" means a gas utility or municipally |
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owned utility that provides retail gas services. |
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(b) A retail provider shall submit to the railroad |
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commission an annual financial statement and other financial |
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information for that provider, including information relating to |
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the profit gained from customer late payment fees and penalties. |
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(c) The railroad commission by rule shall prescribe: |
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(1) the information and detail to be submitted; and |
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(2) the form and time for a provider to submit the |
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information. |
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(d) The information submitted to the railroad commission |
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under this section is public information. |
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SECTION 3. Subchapter E, Chapter 13, Water Code, is amended |
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by adding Section 13.146 to read as follows: |
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Sec. 13.146. DISCLOSURE OF FINANCIAL INFORMATION. (a) A |
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retail public utility shall submit to the commission an annual |
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financial statement and other financial information for that retail |
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public utility, including information relating to the profit gained |
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from customer late payment fees and penalties. |
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(b) The commission by rule shall prescribe: |
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(1) the information and detail to be submitted; and |
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(2) the form and time for a retail public utility to |
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submit the information. |
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(c) The information submitted to the commission under this |
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section is public information. |
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SECTION 4. This Act takes effect September 1, 2007. |