Sec. 56.254. RECOVERY OF COSTS. The commission order designating the successor utility under Section 54.303 shall authorize the utility to recover the costs determined under Section 56.253. The costs may be amortized and recovered from the state universal service fund, together with interest at the prevailing commercial lending rate:
(1) not later than the first anniversary of the date of the order if the costs are not more than $1 million;
(2) not later than the second anniversary of the date of the order if the costs are more than $1 million but no more than $2 million; and
(3) not later than the third anniversary of the date of the order if the costs are more than $2 million.
Added by Acts 2003, 78th Leg., ch. 76, Sec. 7, eff. Sept. 1, 2003.
Last modified: September 28, 2016