Texas Utilities Code

§ 39.302 — DEFINITIONS

UT § 39.302Title 2. PUBLIC UTILITY REGULATORY ACT · Part B. ELECTRIC UTILITIES · Ch. 39. RESTRUCTURING OF ELECTRIC UTILITY INDUSTRY · Art. G. SECURITIZATION

Statute text

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In this subchapter:

(1)"Assignee" means any individual, corporation, or other legally recognized entity to which an interest in transition property is transferred, other than as security, including any assignee of that party.

(2)"Financing order" means an order of the commission adopted under Section 39.201 or 39.262 approving the issuance of transition bonds and the creation of transition charges for the recovery of qualified costs.

(3)"Financing party" means a holder of transition bonds, including trustees, collateral agents, and other persons acting for the benefit of the holder.

(4)"Qualified costs" means 100 percent of an electric utility's regulatory assets and 75 percent of its recoverable costs determined by the commission under Section 39.201 and any remaining amounts determined under Section 39.262 together with the costs of issuing, supporting, and servicing transition bonds and any costs of retiring and refunding the electric utility's existing debt and equity securities in connection with the issuance of transition bonds. The term includes the costs to the commission of acquiring professional services for the purpose of evaluating proposed transactions under Section 39.201 and this subchapter.

(5)"Regulatory assets" means the generation-related portion of the Texas jurisdictional portion of the amount reported by the electric utility in its 1998 annual report on Securities and Exchange Commission Form 10-K as regulatory assets and liabilities, offset by the applicable portion of generation-related investment tax credits permitted under the Internal Revenue Code of 1986.

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Legislative history

Acts 2007, 80th Leg., R.S., Ch. 1186 (H.B. 624), Sec. 3, eff. June 15, 2007.