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                                                                  S.B. No. 1464




AN ACT

relating to funds to be used for nuclear decommissioning purposes 
by electric utilities.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Subchapter A, Chapter 2256, Government Code, is 
amended by adding Section 2256.0205 to read as follows:
	Sec. 2256.0205.  AUTHORIZED INVESTMENTS; DECOMMISSIONING 
TRUST.  (a)  In this section:
		(1)  "Decommissioning trust" means a trust created to 
provide the Nuclear Regulatory Commission assurance that funds will 
be available for decommissioning purposes as required under 10 
C.F.R. Part 50 or other similar regulation.
		(2)  "Funds" includes any money held in a 
decommissioning trust regardless of whether the money is considered 
to be public funds under this subchapter.
	(b)  In addition to other investments authorized under this 
subchapter, a municipality that owns a municipal electric utility 
that is engaged in the distribution and sale of electric energy or 
natural gas to the public may invest funds held in a decommissioning 
trust in any investment authorized by Subtitle B, Title 9, Property 
Code.
	SECTION 2.  Section 39.205, Utilities Code, is amended to 
read as follows:   
	Sec. 39.205.  REGULATION OF COSTS FOLLOWING FREEZE PERIOD.  
At the conclusion of the freeze period, any remaining costs 
associated with nuclear decommissioning obligations continue to be 
subject to cost of service rate regulation and shall be included as 
a nonbypassable charge to retail customers.  The commission may 
adopt rules necessary to ensure that money for decommissioning is 
prudently collected, managed, and spent for its intended purpose 
and that money that remains unspent after decommissioning is 
completed is returned to retail customers.
	SECTION 3.  This Act takes effect immediately if it receives 
a vote of two-thirds of all the members elected to each house, as 
provided by Section 39, Article III, Texas Constitution.  If this 
Act does not receive the vote necessary for immediate effect, this 
Act takes effect September 1, 2005.

                                                                              




______________________________    ______________________________
President of the Senate             Speaker of the House
	I hereby certify that S.B. No. 1464 passed the Senate on 
April 27, 2005, by the following vote:  Yeas 30, Nays 0.




______________________________ 
   Secretary of the Senate             
	I hereby certify that S.B. No. 1464 passed the House on 
May 12, 2005, by a non-record vote.




______________________________ 
   Chief Clerk of the House            



Approved:


______________________________ 
            Date



______________________________ 
          Governor