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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. Section 104.060(a), Utilities Code, is amended |
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to read as follows: |
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(a) In this section, "employee compensation and benefits" |
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includes base salaries, wages, [incentive compensation,] and |
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benefits. The term does not include[: |
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[(1)] pension or other postemployment benefits[; |
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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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SECTION 2. 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, 2021. |