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. During this hearing, the CEO is required to provide 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)