Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
SB1580 by Hancock (Relating to electric cooperatives' use of securitization to address extraordinary costs and expenses created by Winter Storm Uri.), As Introduced
No significant fiscal implication to the State is anticipated.
It is assumed that the costs associated with the bill's provisions relating to electric cooperatives' use of securitization to address extraordinary costs and expenses created by Winter Storm Uri could be absorbed using existing resources.
Local Government Impact
According to the Texas Association of Counties, the bill's provisions may benefit counties and county residents who are customers of electric cooperatives by stabilizing utility bills that would otherwise increase immediately to finance recovery costs from winter storm Uri. The fiscal implications of the bill cannot be determined at this time.
Source Agencies:
212 Office of Court Admin, 304 Comptroller of Public Accounts, 307 Secretary of State, 473 Public Utility Commission of Texas, 475 Office of Public Utility Counsel