HB 2000, Hse 2nd Rdg, Amnd #1

(1) On page 1, lines 8 and 12-13, strike "power generation resources" each place the phrase occurs and substitute "power generation companies".

(2) On page 1, strike lines 22 and 23 and substitute the following:

including market rate, low-interest, and no-interest loans, longer repayment terms for loans, deferral of loan payments, interest rate rebates and

(3) On page 2, line 2, between "of this Act" and the period, insert ", as provided by Sections 49-d-15 and 49-d-16, Article III, Texas Constitution"

(4) On page 2, line 18, and page 3, line 11, strike "equipment or" each place the phrase occurs.

(5) On page 2, line 23, between "31.002" and the underlined period, insert ", except that the term includes an electric cooperative organized under Chapter 161 and a municipally owned utility".

(6) On page 3, lines 2 and 3, strike "and intangible property owned, operated, leased, licensed," and substitute "property owned, operated, leased,".

(7) On page 4, lines 9 and 10, strike "or other trustee selected by the board".

(8) On page 4, line 27, strike "and".

(9) Between page 4, line 27 and page 5, line 1, insert the following:

(6) repayments of loans made from the fund; and

(10) On page 5, line 1, strike "(6)" and substitute "(7)".

(11) On page 5, strike line 4 and substitute "board or the trust company may".

(12) On page 5, line 14, strike "a trustee" and substitute "the trust company".

(13) On page 5, line 18, strike "trustee" each place the term occurs and substitute "the trust company".

(14) On page 5, line 25, strike "The board or a trustee" and substitute "If the fund is managed by the trust company, the trust company".

(15) On page 5, line 27, and on page 6, lines 1, 2, and 3, strike "board or trustee" each place the phrase occurs and substitute "trust company".

(16) On page 6, strike line 5 and substitute the following:

(e) If the fund is managed by the trust company, the trust company

(17) On page 6, line 7, strike "trustee" and substitute "trust company".

(18) On page 6, strike lines 14 through 19 and substitute the following:

(f) The board or trust company shall adopt a written investment policy that is appropriate for the fund. If the fund is managed by the trust company:

(1) the trust company shall present the investment policy to the board and the investment advisory board established under Section 404.028, Government Code; and

(2) the board and investment advisory board shall submit to the trust company recommendations regarding the policy.

(19) On page 6, line 20, strike "a trustee" and substitute "the trust company".

(20) On page 6, lines 21 and 23, strike "trustee" each place the phrase occurs and substitute "trust company".

(21) On page 6, strike lines 25 and 26 and substitute the following:

(h) If the fund is managed by the trust company, the company shall disburse money from the fund as directed by the board. The board shall direct disbursements from the fund on a schedule specified by the board. If any applicable revenue bonds are outstanding, the board shall direct disbursements from the fund not more frequently than twice in any state fiscal year.

(22) On page 7, line 3, strike "a trustee" and substitute "the trust company".

(23) On page 7, line 27, strike "or".

(24) Between page 7, line 27, and page 8, line 1, insert the following:

(4) a power generation company project; or

(25) On page 8, line 1, strike "(4)" and substitute "(5)".

(26) On page 8, line 5, between "including a" and "loan," insert "market rate, low-interest, or no-interest".

(27) On page 8, strike lines 18 and 19 and substitute the following:

(g) The board may contract with and provide for the compensation of consultants and agents, including engineers, attorneys, management consultants, financial advisors, indexing agents, and other experts, as the business of the board under this chapter may require.

(h) The fund may not be used to subsidize or finance the construction of facilities that the board determines, in the board's sole discretion, will result in new electric generation capacity.

(28) On page 8, line 20, strike "(h)" and substitute "(i)".

(29) On page 9, strike lines 14 and 15 and substitute "existing power generation companies and electric utilities to improve the reliability of those companies and utilities to provide continuous and adequate electric service".

(30) On page 12, strike lines 14 through 17.

(31) On page 12, line 18, strike "(7)" and substitute "(6)".

(32) On page 12, line 22, strike "(8)" and substitute "(7)".

(33) On page 13, line 15, between "natural gas," and "or" insert "power generation,".

(34) On page 15, strike lines 9 through 11, and substitute "provide resources to the board that the board determines are necessary to carry out the board's duties and responsibilities under this chapter."

(35) On page 15, line 13, between "electric utility" and "and" insert ", power generation company,".

(36) On page 15, strike line 15 and substitute "electric utility, power generation company, and broadband provider projects after board financial".

(37) On page 15, line 18, between "gas utility" and "projects" insert "and power generation".

(38) On page 15, strike line 20 and substitute "and power generation company projects after board financial assistance.".

(39) On page 16, between lines 12 and 13, insert the following:

Sec. 202.013. METHODOLOGY AND STANDARDS FOR POWER GENERATION FACILITY WEATHERIZATION. (a) The Public Utility Commission of Texas shall develop a statistical methodology to determine the ambient conditions to which each power generation facility must be weatherized to comply with winter operations reliability standards.

(b) A methodology or standard developed under Subsection (a) may be used only to determine whether to provide financial assistance or support to a project to weatherize a power generation facility under this subtitle.

(40) On page 17, line 25, between "managed by" and "the" insert "the board,".

(41) On page 17, line 26, insert an underlined comma after "comptroller".

(42) On page 18, line 4, strike "comptroller or" and substitute "board, comptroller, or".

(43) On page 18, lines 11, 14, and 15, strike "infrastructure" each place the term occurs and substitute "facilities".

(44) On page 18, line 18, between "including a" and "loan," insert "market rate, low-interest, or no-interest".

(45) On page 18, line 21, strike "a" and insert "an interest".

(46) On page 19, line 4, strike "and".

(47) On page 19, between lines 4 and 5, insert the following:

(2) contract with and provide for the compensation of consultants and agents, including engineers, attorneys, management consultants, financial advisors, indexing agents, and other experts, as the business of the board may require; and

(48) On page 19, line 5, strike "(2)" and substitute "(3)".

(49) On page 19, line 10, strike "or".

(50) On page 19, strike line 14 and substitute the following:

(3) to transfer money to the fund as necessary.

(51) Strike SECTION 4 of the substitute (page 23, lines 18 through 24).

(52) On page 23, line 25, strike "SECTION 5." and substitute "SECTION 4."

(53) On page 24, line 11, strike "and".

(54) On page 24, between lines 11 and 12, insert the following:

(D) power generation companies; and

(55) On page 24, line 12, strike "(D)" and substitute "(E)".

(56) On page 24, line 25, strike "December 31, 2022" and substitute "March 1, 2023".

(57) On page 25, line 5, strike "September 1, 2022" and substitute "June 1, 2023".

(58) On page 25, line 10, strike "March 1, 2023" and insert "December 1, 2023".

(59) Strike SECTION 9 of the substitute (page 25, lines 16-23) and add the following appropriately numbered SECTION to the substitute:

SECTION ____. (a) Except as provided by Subsection (b) of this section:

(1) this Act takes effect on the date on which the constitutional amendment proposed by the 87th Legislature, Regular Session, 2021, creating the state utilities reliability fund and the state utilities reliability revenue fund to provide financial support for projects that enhance the reliability and resiliency of water, electric, and natural gas utilities, broadband providers, and power generation companies in this state takes effect; or

(2) if the amendment described by Subdivision (1) of this subsection is not approved by the voters, this Act has no effect.

(b) Regardless of whether the constitutional amendment described by Subsection (a) of this section is approved by the voters, SECTION 4 of this Act takes effect:

(1) immediately, if this Act receives a vote of two-thirds of all the members elected to each house, as provided by Section 39, Article III, Texas Constitution; or

(2) September 1, 2021, if this Act does not receive the vote necessary for immediate effect.

(60) Renumber the SECTIONS of the substitute and cross-references to those SECTIONS appropriately.