The bill, S.B. No. 1560, amends Section 39.151 of the Utilities Code to enhance the legislative oversight of independent organizations certified for a power region. It introduces a new Subsection (e-2), which mandates that before an independent organization submits its proposed annual budget to the commission, the chief executive officer must present the budget in a public hearing before the standing committee of each house of the legislature that oversees state finance or appropriations. This presentation must include the proposed budget, performance measures, an overview of investment strategies, any proposed fee changes, and information on ongoing or future strategic plans, objectives, projects, and contracts with outside consultants.

The bill aims to ensure greater transparency and accountability in the financial operations of independent organizations managing regional electric networks. It requires detailed disclosures that could impact the organization's protocols and associated costs, thereby allowing the legislature to make informed decisions regarding state finance and appropriations related to these organizations. The bill is set to take effect immediately upon receiving a two-thirds vote from both houses or on September 1, 2025, if such a vote is not achieved.

Statutes affected:
Introduced: Utilities Code 39.151 (Utilities Code 39)