Bill Text: TX HJR112 | 2023-2024 | 88th Legislature | Introduced

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Bill Title: Proposing a constitutional amendment providing for the creation of the electric generating facility fund to finance construction of electric generating facilities.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2023-03-13 - Referred to State Affairs [HJR112 Detail]

Download: Texas-2023-HJR112-Introduced.html

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88R8214 JXC-D
By: Shaheen H.J.R. No. 112

A JOINT RESOLUTION
proposing a constitutional amendment providing for the creation of
the electric generating facility fund to finance construction 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 electric generating facility 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 electric
generating facility 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
to finance the construction of electric generating facilities in
this state.
(c) The entity administering the electric generating
facility fund may establish separate accounts in the fund as
necessary or convenient for the fund's administration.
(d) The electric generating facility fund consists of:
(1) money transferred or deposited to the credit of
the fund by or as authorized by law, including money from any source
transferred or deposited to the credit of the fund at the discretion
of the entity administering the fund;
(2) revenue, including the proceeds of any fee,
assessment, or tax imposed by this state, that general law
dedicates for deposit to the credit of the fund; and
(3) investment earnings and interest earned on money
in the fund.
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 electric generating facility fund to finance
construction of electric generating facilities."