TITLE: Proposing a constitutional amendment providing for the creation of the Texas energy reliability fund to finance construction of electric generating facilities.

SUMMARY: Proposing a constitutional amendment providing for the creation of the Texas energy reliability fund to finance construction of electric generating facilities.

FULL TEXT:
88(R) HJR 180-Introduced version-Bill Text 88R12163 JXC-D By: Hunter H.J.R. No. 180 A JOINT RESOLUTION proposing a constitutional amendment providing for the creation of the Texas energy reliability 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 Texas energy reliability 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 reliability 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 new electric generating facilities or additional generating capacity for electric generating facilities. (c) The entity administering the Texas energy reliability fund may establish separate accounts in the fund as necessary or convenient for the fund's administration. (d) The Texas energy reliability 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 Texas energy reliability fund to finance construction of electric generating facilities."