Proposing a constitutional amendment authorizing the issuance of general obligation bonds to provide and guarantee loans to encourage the use of hydrogen as a cleaner fuel source.
Impact
The bill specifically allows the Texas Public Finance Authority to issue bonds, which are considered a general obligation of the state. This means that the state's treasury will be responsible for ensuring the debt is serviced, thereby committing state funds for the repayment of the principal and interest on these bonds. Such financial mechanisms are expected to stimulate economic activity by facilitating investments in hydrogen-related projects across various sectors, including business entities and higher education institutions.
Voting
The bill is due to be presented to voters in an election scheduled for November 3, 2009, where constituents will have the opportunity to express their support or opposition through a ballot measure explicitly outlining the bond issuance for hydrogen projects. The outcome of this vote will significantly influence Texas's approach to renewable energy funding and development.
Summary
HJR73 proposes a constitutional amendment to authorize the issuance of general obligation bonds in the amount not to exceed $250 million. The purpose of these bonds is to provide and guarantee loans aimed at encouraging the use of hydrogen as a cleaner fuel source in Texas. This initiative reflects a growing interest in promoting alternative energy sources and reducing reliance on fossil fuels, in line with state and national environmental goals.
Contention
Potential points of contention surrounding HJR73 may arise from concerns about the financial implications of issuing such bonds. Critics could question the prioritization of funding for hydrogen projects over other pressing needs within the state. Additionally, there may be debate over the efficacy and environmental impact of hydrogen as a clean fuel compared to other renewable energy sources. Proponents argue that hydrogen technology holds promise for a sustainable energy future, while skeptics may call for more comprehensive assessments before committing state resources.
Identical
Proposing a constitutional amendment authorizing the issuance of general obligation bonds to provide and guarantee loans to encourage the use of hydrogen as a cleaner fuel source.
Proposing a constitutional amendment authorizing the issuance of general obligation bonds to provide funding for the construction, expansion, maintenance, and operation of state mental health facilities.
Proposing a constitutional amendment providing for the dedication of certain sales and use tax revenue to a special fund established in the state treasury to pay for water infrastructure in this state.
Proposing a constitutional amendment creating the utilities reliability fund and the utilities reliability revenue fund to provide financial support for projects that enhance the reliability and resiliency of the power grid in this state.
Proposing a constitutional amendment creating the utilities reliability fund and the utilities reliability revenue fund to provide financial support for projects that enhance the reliability and resiliency of the power grid in this state.
Relating to the funding of projects by the Public Utility Commission of Texas to promote the reliability and resiliency of the power grid in this state; authorizing the issuance of revenue bonds.
Proposing a constitutional amendment authorizing the legislature to provide for exceptions to the requirement that a home equity loan be closed only at the office of the lender, an attorney at law, or a title company.