The bill, S.B. No. 2476, proposes the transfer of ownership rights of the Woodlawn Water Supply Corporation to the Angelina and Neches River Authority. It allows the authority to enter into a contract with the corporation to transfer all 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 Certificate of Convenience and Necessity No. 10354 will be considered held by the authority, and the board of directors of the corporation is required to notify relevant state agencies of this transfer.

Furthermore, the bill stipulates that the Public Utility Commission of Texas will update its records to reflect the authority as the holder of the certificate without the need for further application or hearing, and it denies any rights of protest or administrative review regarding this transfer. The board of directors must also initiate dissolution proceedings for the corporation within 30 days following the transfer. The bill will take effect immediately if it receives a two-thirds majority vote in both houses; otherwise, it will become effective on September 1, 2025.