Bill Text: TX SJR93 | 2023-2024 | 88th Legislature | Comm Sub

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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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-Comm_Sub.html

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By: Schwertner S.J.R. No. 93
(Hunter)
Substitute the following for S.J.R. No. 93: No.

A JOINT RESOLUTION
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.
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,
modernization, and operation of electric generating facilities,
including associated infrastructure, necessary to ensure the
reliability or adequacy of an electric power grid in this state.
The commission shall allocate money from the fund for loans and
grants to eligible projects:
(1) for electric generating facilities that serve as
backup power sources; and
(2) in each region of the state that is part of an
electric power grid in proportion to that region's load share.
(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) 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 to support the construction,
maintenance, modernization, and operation of electric generating
facilities."