S.B. No. 2476 is a legislative act that facilitates the transfer of ownership rights of the Woodlawn Water Supply Corporation to the Angelina and Neches River Authority. The bill outlines the process for this transfer, allowing the authority to enter into a contract with the corporation to acquire its assets, debts, and contractual rights and obligations. Upon execution of the contract, all property interests, including real property, easements, and water supply systems, will be transferred to the authority. Additionally, the bill stipulates that the Public Utility Commission of Texas will update its records to reflect that Certificate of Convenience and Necessity No. 10354 is now held by the authority, and it will reissue the certificate without requiring further application or hearing.

Furthermore, the bill mandates that the board of directors of the Woodlawn Water Supply Corporation must notify relevant state agencies of the transfer and initiate dissolution proceedings within 30 days following the transfer. The act will take effect immediately if it receives a two-thirds majority vote from both houses of the legislature; otherwise, it will become effective on September 1, 2025.