TITLE: Relating to the allocation of money in the Texas Energy Fund.

SUMMARY: Relating to the allocation of money in the Texas Energy Fund.

FULL TEXT:
AN ACT relating to the allocation of money in the Texas Energy Fund. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 34.0106, Utilities Code, is amended by adding Subsection (f) to read as follows: (f) Notwithstanding any other law, the commission may not allocate more than $5 billion from the fund to provide loans or grants under Section 34.0104 or 34.0105 until the maximum amount of money from the fund allowed under Subsections (e)(1) and (3) has been allocated to provide: (1) grants under Section 34.0103; and (2) grants or loans under Subchapter B. SECTION 2. This Act takes effect immediately if it receives a vote of two-thirds of all the members elected to each house, as provided by Section 39, Article III, Texas Constitution.