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A BILL TO BE ENTITLED
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AN ACT
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relating to the threshold amount at which public utilities are |
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required to report a transaction. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 14.101(a), Utilities Code, is amended to |
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read as follows: |
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(a) Unless a public utility reports the transaction to the |
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commission within a reasonable time, the public utility may not: |
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(1) sell, acquire, or lease a plant as an operating |
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unit or system in this state for a total consideration of more than |
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$10 million [$100,000]; or |
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(2) merge or consolidate with another public utility |
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operating in this state. |
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SECTION 2. The change in law made by this Act applies only |
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to an agreement for the sale, acquisition, or lease of a plant that |
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is entered into on or after the effective date of this Act. An |
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agreement for the sale, acquisition, or lease of a plant that is |
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entered into before the effective date of this Act is governed by |
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the law applicable to the agreement immediately before the |
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effective date of this Act, and that law is continued in effect for |
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that purpose. |
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SECTION 3. This Act takes effect September 1, 2011. |