Texas 2009 - 81st Regular

Texas Senate Bill SB542

Voted on by Senate
 
Out of House Committee
 
Voted on by House
 
Governor Action
 
Bill Becomes Law
 

Caption

Relating to the use of money from the Texas emerging technology fund for the research and development of clean energy.

Impact

The enactment of SB542 is designed to significantly impact state laws concerning energy production and environmental regulations. By prioritizing investment in clean energy research, the bill seeks to not only foster technological advancements but also stimulate economic growth within the state. These developments will likely create new job opportunities in emerging sectors focused on sustainability and energy efficiency, aligning Texas with broader national and global trends toward reducing carbon footprints.

Summary

Senate Bill 542 is an act focused on the allocation of funds from the Texas Emerging Technology Fund specifically for the research and development of clean energy initiatives. The bill emphasizes support for low carbon fuel production, innovative electric generation technologies, and strategies to mitigate carbon emissions. The aim is to redirect state financial resources towards advancing the clean energy sector within Texas, thereby promoting sustainable energy practices and addressing climate challenges.

Contention

Despite its benefits, discussions around SB542 may include points of contention regarding the balance between clean energy initiatives and existing fossil fuel industries, which play a significant role in Texas's economy. Stakeholders from both sides may express concerns about resource allocation, job displacement in traditional energy sectors, and the need for transitional strategies that support workers affected by shifts in funding priorities. Additionally, the efficacy of the Emerging Technology Fund in achieving these clean energy goals may also be a debated topic.

Companion Bills

TX HB1991

Very Similar Relating to the use of money from the Texas emerging technology fund for the research and development of clean energy.

Previously Filed As

TX SJR49

Proposing a constitutional amendment creating a university research fund to support emerging research universities in The University of Texas System or The Texas A&M University System and disqualifying all component institutions of those university systems from receiving money from the national research university fund.

TX SB19

Relating to the administration and investment of, and distribution and use of money from, certain constitutional and statutory funds to support general academic teaching institutions in achieving national prominence as major research universities and driving the state economy; redesignating the national research university fund as the Texas University Fund.

TX SB1058

Relating to the university research fund and eligibility to receive money from the national research university fund.

TX HB4885

Relating to programs established and funded under the Texas emissions reduction plan.

TX HB2421

Relating to the reenactment of expired provisions of the Texas Economic Development Act.

TX HB2466

Relating to the creation of the Texas technology and innovation program.

TX SB2367

Relating to the creation of programs and funding for investment in technology industries.

TX HB2207

Relating to the allocation of certain constitutional transfers of money to the economic stabilization fund, the state highway fund, the oil and gas regulation and cleanup account, the Texas emissions reduction plan fund, the property tax relief fund, and the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund and to the permissible uses of money deposited to the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund.

TX HB1595

Relating to the administration and investment of, and distribution and use of money from, certain constitutional and statutory funds to support general academic teaching institutions in achieving national prominence as major research universities and driving the state economy.

TX HB3447

Relating to the establishment and administration of the Texas Space Commission and the Texas Aerospace Research and Space Economy Consortium.

Similar Bills

No similar bills found.