Amend CSSB 7 in Section 39.151(c), Utilities Code, as added by SECTION 33 of the bill (Committee Report Printing, page 18, line 67), by adding the following after "functions set out in this section.": The commission shall supervise the formation of an independent organization to perform the regulatory functions prescribed by Subsection (a) for a power region that is located wholly or partly in this state but is not located within ERCOT. The independent organization shall file for approval from the appropriate regulatory bodies not later than December 31, 2001. The commission shall cooperate with other regulatory bodies as necessary.