The bill, S.B. No. 1560, amends Section 39.151 of the Utilities Code to enhance the oversight of independent organizations certified for a power region by requiring their chief executive officers to present financial information to the legislature. Specifically, before submitting a proposed annual budget to the commission, the CEO must appear before the standing committee of each house with primary jurisdiction over state finance or appropriations. During this public hearing, the CEO is required to present the proposed budget, performance measures, an overview of investment strategies, any proposed fee changes, and information regarding ongoing or future strategic plans, objectives, projects, and contracts with outside consultants.

This legislative change aims to ensure greater transparency and accountability in the financial operations of independent organizations managing regional electric networks. The bill will take effect immediately if it receives a two-thirds vote from both houses; otherwise, it will become effective on September 1, 2025.

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