BILL ANALYSIS

 

 

 

S.B. 1002

By: Hancock

State Affairs

Committee Report (Unamended)

 

 

 

BACKGROUND AND PURPOSE

 

Interested parties have expressed a need to update Utilities Code provisions establishing accounting principles for an electric utility's postemployment benefit expenses to bring those provisions into alignment with planned changes to the generally accepted accounting principles. S.B. 1002 seeks to bring that state law into conformity with certain generally accepted accounting principles.

 

CRIMINAL JUSTICE IMPACT

 

It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.

 

RULEMAKING AUTHORITY

 

It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.

 

ANALYSIS

 

S.B. 1002 amends the Utilities Code to remove the specification that an electric utility's expense in providing pension and other postemployment benefits is an operating expense for purposes of specified periodic calculations and recordings in the electric utility's reserve account for such benefits.

 

EFFECTIVE DATE

 

On passage, or, if the bill does not receive the necessary vote, September 1, 2017.