Texas Senate Bill SJR28

Texas 2009 - 81st Regular

Caption

Proposing a constitutional amendment authorizing the issuance of general obligation bonds to provide and guarantee loans to promote the use of renewable energy technology and the making of energy efficiency improvements.

Impact

If approved, the amendment would enable the state to leverage financial resources for renewable energy initiatives, contributing to the larger goal of enhancing sustainability in Texas. The bonds would be considered a general obligation of the state, necessitating that the state ensures sufficient treasury funds to cover the bond repayments and related agreements. This financial mechanism could potentially accelerate the state's shift towards greener energy solutions and promote responsible stewardship of environmental resources.

Summary

SJR28 proposes a constitutional amendment that allows the state of Texas to issue up to $1 billion in general obligation bonds. These funds are intended to provide and guarantee loans that promote the use of renewable energy technologies and support energy efficiency improvements across various sectors. By empowering the Texas Public Finance Authority to manage these bonds, the resolution aims to stimulate economic development while addressing environmental concerns associated with traditional energy sources.

Contention

Discussions surrounding SJR28 may reveal notable points of contention, particularly regarding the fiscal implications of issuing such bonds. Critics may argue about the state's ability to manage debt responsibly, while proponents emphasize the long-term financial and environmental benefits that could arise from such investments. The requirement for voter approval adds another layer of complexity, potentially straining support as constituents weigh immediate economic concerns against future environmental objectives.