Bill Text: TX HB1767 | 2019-2020 | 86th Legislature | Enrolled
Bill Title: Relating to the consideration of employee compensation and benefits in establishing the rates of gas utilities.
Spectrum: Slight Partisan Bill (Republican 5-3)
Status: (Passed) 2019-06-15 - Effective immediately [HB1767 Detail]
Download: Texas-2019-HB1767-Enrolled.html
H.B. No. 1767 |
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relating to the consideration of employee compensation and benefits | ||
in establishing the rates of gas utilities. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subchapter B, Chapter 104, Utilities Code, is | ||
amended by adding Section 104.060 to read as follows: | ||
Sec. 104.060. CONSIDERATION OF COMPENSATION AND BENEFIT | ||
EXPENSES. (a) In this section, "employee compensation and | ||
benefits" includes base salaries, wages, incentive compensation, | ||
and benefits. The term does not include: | ||
(1) pension or other postemployment benefits; and | ||
(2) incentive compensation related to attaining | ||
financial metrics for an executive officer whose compensation is | ||
required to be disclosed under 17 C.F.R. Section 229.402(a). | ||
(b) When establishing a gas utility's rates, the regulatory | ||
authority shall presume that employee compensation and benefits | ||
expenses are reasonable and necessary if the expenses are | ||
consistent with market compensation studies issued not earlier than | ||
three years before the initiation of the proceeding to establish | ||
the rates. | ||
SECTION 2. (a) Section 104.060, Utilities Code, as added by | ||
this Act, applies only to a proceeding for the establishment of | ||
rates for which the regulatory authority has not issued a final | ||
order or decision before the effective date of this Act. | ||
(b) A proceeding for which the regulatory authority has | ||
issued a final order or decision before the effective date of this | ||
Act is governed by the law in effect immediately before that date, | ||
and that law is continued in effect for that purpose. | ||
SECTION 3. 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, 2019. | ||
______________________________ | ______________________________ | |
President of the Senate | Speaker of the House | |
I certify that H.B. No. 1767 was passed by the House on April | ||
15, 2019, by the following vote: Yeas 103, Nays 38, 2 present, not | ||
voting; and that the House concurred in Senate amendments to H.B. | ||
No. 1767 on May 22, 2019, by the following vote: Yeas 138, Nays 6, | ||
1 present, not voting. | ||
______________________________ | ||
Chief Clerk of the House | ||
I certify that H.B. No. 1767 was passed by the Senate, with | ||
amendments, on May 14, 2019, by the following vote: Yeas 30, Nays | ||
1. | ||
______________________________ | ||
Secretary of the Senate | ||
APPROVED: __________________ | ||
Date | ||
__________________ | ||
Governor |