Relating to the securitization of a public utility's insurance program; and prescribing an effective date.

Summary

It amends the state utility code to define how utilities can assign rate‑recovery assets, issue bonds, and recover financing costs from customers. The changes apply to electric and natural‑gas utilities, their customers, bondholders and any finance subsidiaries that handle the bonds. By setting clear rules, the law creates a structured way for utilities to finance emergency, conservation and other approved expenses.

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