SB1560 - Relating to the submission to the legislature of financial information of an independent organization certified for a power region.

  89R9399 CS-D     By: Schwertner S.B. No. 1560       A BILL TO BE ENTITLED   AN ACT   relating to the submission to the legislature of financial   information of an independent organization certified for a power   region.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 39.151, Utilities Code, is amended by   adding Subsection (e-2) to read as follows:           (e-2)     Before an independent organization submits a proposed   annual budget to the commission under Subsection (d-1), the chief   executive officer of the independent organization shall appear   before the standing committee of each house of the legislature with   primary jurisdiction over state finance or appropriations in a   public hearing to present:                 (1)  the proposed annual budget;                 (2)     proposed performance measures described by   Subsection (d-3);                 (3)     an overview of the organization's investment   strategies;                 (4)     any proposed change to the amount of a fee under   Subsection (e); and                 (5)  information related to:                       (A)     ongoing or future strategic plans,   objectives, and projects that may require a change to protocols of   the organization, including any associated costs; and                         (B)     current and planned contracts with outside   consultants or firms to study or make recommendations to the   operations and management of a regional electric network governed   by the organization.          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, 2025.