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By: Murphy, et al. |
H.B. No. 1767 |
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(Senate Sponsor - Birdwell, Bettencourt) |
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(In the Senate - Received from the House April 16, 2019; |
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April 16, 2019, read first time and referred to Committee on |
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Natural Resources & Economic Development; May 9, 2019, reported |
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adversely, with favorable Committee Substitute by the following |
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vote: Yeas 11, Nays 0; May 9, 2019, sent to printer.) |
Click here to see the committee vote |
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COMMITTEE SUBSTITUTE FOR H.B. No. 1767 |
By: Birdwell |
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A BILL TO BE ENTITLED
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AN ACT
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relating to the consideration of employee compensation and benefits |
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in establishing the rates of gas utilities. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 104, Utilities Code, is |
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amended by adding Section 104.060 to read as follows: |
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Sec. 104.060. CONSIDERATION OF COMPENSATION AND BENEFIT |
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EXPENSES. (a) In this section, "employee compensation and |
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benefits" includes base salaries, wages, incentive compensation, |
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and benefits. The term does not include: |
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(1) pension or other postemployment benefits; and |
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(2) incentive compensation related to attaining |
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financial metrics for an executive officer whose compensation is |
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required to be disclosed under 17 C.F.R. Section 229.402(a). |
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(b) When establishing a gas utility's rates, the regulatory |
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authority shall presume that employee compensation and benefits |
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expenses are reasonable and necessary if the expenses are |
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consistent with recent market compensation studies. |
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SECTION 2. (a) Section 104.060, Utilities Code, as added by |
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this Act, applies only to a proceeding for the establishment of |
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rates for which the regulatory authority has not issued a final |
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order or decision before the effective date of this Act. |
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(b) A proceeding for which the regulatory authority has |
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issued a final order or decision before the effective date of this |
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Act is governed by the law in effect immediately before that date, |
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and that law is continued in effect for that purpose. |
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SECTION 3. 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, 2019. |
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