Texas Senate Bill SJR62

Texas 2021 - 87th Regular

Caption

Proposing a constitutional amendment providing for the creation of the State Utilities Reliability Fund and the State Utilities Reliability Revenue Fund to provide financial support for projects that enhance the reliability of water, electricity, natural gas and broadband utilities in this state.

Impact

If enacted, SJR62 will have a significant impact on state law regarding the financing and reliability of essential utility services. The State Utilities Reliability Fund will serve as a specialized fund outside the general revenue stream, allowing for dedicated financing of crucial utility projects. This legislative amendment seeks to streamline financial processes for utility development, ensuring that funds are specifically allocated to enhance utility infrastructure and resilience, particularly in response to crises such as severe weather events.

Summary

SJR62 proposes a constitutional amendment to create the State Utilities Reliability Fund and the State Utilities Reliability Revenue Fund, aimed at ensuring the reliability of key utilities in Texas, including water, electricity, natural gas, and broadband. The funds will enhance the state's infrastructure by financing projects that improve these utilities, particularly during periods of high demand. The Texas Water Development Board will administer these funds, implementing a program designed to support relevant utility projects with financial assistance, primarily through loans and bonds.

Contention

Notable points of contention may arise around the management of the funds and the balance between public and private utility companies. There may be concerns regarding the oversight role of the Texas Water Development Board and how the funds will be allocated to various projects. Stakeholders could potentially express apprehensions about prioritization of funding and ensuring that public equity is maintained in the face of privatization pressures, ensuring that all communities have reliable access to essential utility services without compromising public welfare.