Bill Text: TX HB2235 | 2017-2018 | 85th Legislature | Comm Sub
Bill Title: Relating to accounting principles applicable to pension and other postemployment benefit expenses for electric utilities.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2017-05-08 - Laid on the table subject to call [HB2235 Detail]
Download: Texas-2017-HB2235-Comm_Sub.html
85R8499 DMS-F | ||
By: Murphy, Anderson of McLennan, et al. | H.B. No. 2235 |
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relating to accounting principles applicable to pension and other | ||
postemployment benefit expenses for electric utilities. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 36.065(b), Utilities Code, is amended to | ||
read as follows: | ||
(b) An [ |
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establish one or more reserve accounts for expenses for pension and | ||
other postemployment benefits. An electric utility shall | ||
periodically record in the reserve account any difference between: | ||
(1) the annual amount of pension and other | ||
postemployment benefits approved as an [ |
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electric utility's last general rate proceeding or, if that amount | ||
cannot be determined from the regulatory authority's order, the | ||
amount recorded for pension and other postemployment benefits under | ||
generally accepted accounting principles during the first year that | ||
rates from the electric utility's last general rate proceeding are | ||
in effect; and | ||
(2) the annual amount of pension and other | ||
postemployment benefits as determined by actuarial or other similar | ||
studies that are chargeable to the electric utility's [ |
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expense. | ||
SECTION 2. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to each house, as | ||
provided by Section 39, Article III, Texas Constitution. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2017. |