SB2476

On the date the contract is executed, the corporation’s property interests—including land, easements, water conveyance, transmission and treatment systems, and designated rights-of-way—transfer to the authority. Its Certificate of Convenience and Necessity No. 10354 is then treated as held by the authority. The corporation’s board must notify the Texas Commission on Environmental Quality of the corporation’s transfer and the Public Utility Commission of Texas of the certificate transfer. Final law, section 2(a)–(b).

Once notified, the utility commission must update its records and reissue the certificate in the authority’s name without another application, notice or hearing. The act expressly provides no right of protest, objection or administrative review of this transfer. It also requires the corporation’s board to begin dissolution proceedings within 30 days after the transfer; that is not a requirement to finish dissolution in 30 days. Final law, section 2(c)–(d).

The introduced, Senate committee, Senate-passed, House committee and final operative texts matched. The official amendment index lists no amendments. All text versions; Amendment index; Final law.

Compare the published text versions in the official text index. A change is not attributed to a specific amendment here without a verified record.

If the parties execute the contract, the authority takes on the corporation’s assets and obligations through the specified transfer, and certificate reissuance avoids an additional administrative proceeding. The act bars protest, objection and administrative review of this transfer. The fiscal note anticipates no significant state or local fiscal implication and assumes state costs can be absorbed with existing resources. It does not quantify purchase terms, debt balances, customer rates or service improvements. This briefing does not verify an executed contract, completed transfer or dissolution. Only posted fiscal note; Final law.