Bill Text: TX SJR93 | 2023-2024 | 88th Legislature | Engrossed
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Proposing a constitutional amendment providing for the creation of the Texas energy fund to support the construction, maintenance, modernization, and operation of electric generating facilities.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2023-05-30 - Filed with the Secretary of State [SJR93 Detail]
Download: Texas-2023-SJR93-Engrossed.html
Bill Title: Proposing a constitutional amendment providing for the creation of the Texas energy fund to support the construction, maintenance, modernization, and operation of electric generating facilities.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2023-05-30 - Filed with the Secretary of State [SJR93 Detail]
Download: Texas-2023-SJR93-Engrossed.html
By: Schwertner | S.J.R. No. 93 | |
SENATE JOINT RESOLUTION |
proposing a constitutional amendment providing for the creation of | ||
the Texas energy fund and the authorization of other funding | ||
mechanisms to support the construction, maintenance, and | ||
modernization of electric generating facilities. | ||
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Article III, Texas Constitution, is amended by | ||
adding Section 49-q to read as follows: | ||
Sec. 49-q. (a) The Texas energy fund is created as a | ||
special fund in the state treasury outside the general revenue | ||
fund. | ||
(b) As provided by general law, money in the Texas energy | ||
fund may be administered and used, without further appropriation, | ||
only by the Public Utility Commission of Texas or that commission's | ||
successor in function to provide loans and grants to any entity to | ||
finance or incentivize the construction, maintenance, and | ||
modernization of electric generating facilities. | ||
(c) The entity administering the Texas energy fund may | ||
establish separate accounts in the fund as necessary or convenient | ||
for the fund's administration. | ||
(d) The Texas energy fund consists of: | ||
(1) money credited, appropriated, or transferred to | ||
the fund by or as authorized by the legislature; | ||
(2) revenue that the legislature dedicates for deposit | ||
to the credit of the fund; | ||
(3) the returns received from the investment of the | ||
money in the fund; and | ||
(4) gifts, grants, and donations contributed to the | ||
credit of the fund. | ||
(e) The reasonable expenses of managing the Texas energy | ||
fund's assets shall be paid from the fund. | ||
(f) The legislature by a provision of a general | ||
appropriations act may provide for the transfer to the general | ||
revenue fund of money that is subject to this section. | ||
(g) The legislature may appropriate general revenue for the | ||
purpose of depositing money to the credit of the Texas energy fund | ||
to be used for the purposes of that fund. | ||
(h) Regardless of whether the legislature directs that the | ||
money be deposited to the credit of the Texas energy fund, the | ||
legislature may appropriate general revenue to be expended for any | ||
purpose related to construction, maintenance, or modernization of | ||
electric generating facilities to ensure the reliability or | ||
adequacy of an electric power grid in this state. | ||
(i) For purposes of Section 22, Article VIII, of this | ||
constitution: | ||
(1) money in the Texas energy fund is dedicated by this | ||
constitution; and | ||
(2) an appropriation of state tax revenues for the | ||
purpose of depositing money to the credit of the Texas energy fund | ||
is treated as if it were an appropriation of revenues dedicated by | ||
this constitution. | ||
SECTION 2. This proposed constitutional amendment shall be | ||
submitted to the voters at an election to be held November 7, 2023. | ||
The ballot shall be printed to permit voting for or against the | ||
proposition: "The constitutional amendment providing for the | ||
creation of the Texas energy fund and the authorization of other | ||
funding mechanisms to support the construction, maintenance, and | ||
modernization of electric generating facilities." |