Texas 2021 - 87th 3rd C.S.

Texas House Bill HJR11 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	87S30261 BRG-F
2	2	By: Huberty H.J.R. No. 11
3	3
4	4
5	5	A JOINT RESOLUTION
6	6	proposing a constitutional amendment creating the State Utilities
7	7	Reliability Fund and the State Utilities Reliability Revenue Fund
8	8	to provide financial support for projects that enhance the
9	9	reliability and resiliency of water, electric, and natural gas
10	10	utilities, broadband providers, and power generation resources in
11	11	this state.
12	12	BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
13	13	SECTION 1. Article III, Texas Constitution, is amended by
14	14	adding Sections 49-d-15 and 49-d-16 to read as follows:
15	15	Sec. 49-d-15. (a) The State Utilities Reliability Fund is
16	16	created as a special fund in the state treasury outside the general
17	17	revenue fund. Money in the State Utilities Reliability Fund shall
18	18	be administered, without further appropriation, by the Texas Water
19	19	Development Board or that board's successor in function. In
20	20	accordance with general law, the State Utilities Reliability Fund
21	21	may be used only to support projects to enhance the reliability and
22	22	resiliency of water, electric, and natural gas utilities, broadband
23	23	providers, and power generation companies in this state, including
24	24	projects to weatherize facilities and reduce demand. Separate
25	25	accounts may be established in the State Utilities Reliability Fund
26	26	as necessary or convenient to administer the fund or the supported
27	27	projects. The financial assistance authorized by this section may
28	28	be provided directly to private entities or to utilities owned by
29	29	public or private entities as provided by general law.
30	30	(b) The legislature by general law may authorize the Texas
31	31	Water Development Board or that board's successor in function to
32	32	use the State Utilities Reliability Fund to provide financial
33	33	assistance, including by direct loan or grant, for projects that
34	34	enhance the reliability of water, electric, and natural gas
35	35	utilities, broadband service providers, and power generation
36	36	companies in this state, including utilities owned by public or
37	37	private entities, and projects that reduce demand.
38	38	(c) In accordance with general law, the Texas Water
39	39	Development Board or that board's successor in function may, at
40	40	that entity's discretion, transfer money from the State Utilities
41	41	Reliability Fund to other programs and funds of the board or that
42	42	board's successor in function, including the State Utilities
43	43	Reliability Revenue Fund.
44	44	(d) The State Utilities Reliability Fund consists of:
45	45	(1) money appropriated to the fund;
46	46	(2) money transferred or deposited to the credit of
47	47	the fund by general law, including money from any source
48	48	transferred or deposited to the credit of the fund at the discretion
49	49	of the Texas Water Development Board or that board's successor in
50	50	function as authorized by general law;
51	51	(3) revenue from any source, including the proceeds of
52	52	any fee or tax imposed by this state, that the legislature by
53	53	statute dedicates for deposit to the credit of the fund;
54	54	(4) investment earnings and interest earned on amounts
55	55	credited to the fund; and
56	56	(5) money transferred to the fund from another fund or
57	57	account to which money from the fund was transferred, as authorized
58	58	by general law.
59	59	(e) The legislature by general law shall provide for the
60	60	manner in which the assets of the State Utilities Reliability Fund
61	61	may be used, subject to the limitations provided by this section.
62	62	The legislature by general law may provide for costs of investment
63	63	and administration of the State Utilities Reliability Fund to be
64	64	paid from that fund.
65	65	(f) For the purposes of Section 22, Article VIII, of this
66	66	constitution, an appropriation of money from the economic
67	67	stabilization fund for the purpose of depositing that money to the
68	68	credit of the State Utilities Reliability Fund is considered to be
69	69	an appropriation of state tax revenues dedicated by this
70	70	constitution.
71	71	(g) This section is intended to establish a basic framework
72	72	of the State Utilities Reliability Fund, and the legislature by
73	73	general law may provide for the implementation and effectuate the
74	74	design and objects of this section and may delegate duties,
75	75	responsibilities, functions, and authority to the Texas Water
76	76	Development Board or that board's successor in function for those
77	77	purposes.
78	78	Sec. 49-d-16. (a) The State Utilities Reliability Revenue
79	79	Fund is created as a special fund in the state treasury outside the
80	80	general revenue fund. Money in the State Utilities Reliability
81	81	Revenue Fund shall be administered, without further appropriation,
82	82	by the Texas Water Development Board or that board's successor in
83	83	function. In accordance with general law, the State Utilities
84	84	Reliability Revenue Fund may be used only for the purpose of
85	85	providing financing for projects that enhance the reliability and
86	86	resiliency of water, electric, and natural gas utilities, broadband
87	87	providers, and power generation companies in this state, including
88	88	by supporting projects to weatherize facilities and reduce demand
89	89	in accordance with general law and requirements adopted by the
90	90	Texas Water Development Board or that board's successor in
91	91	function. Separate accounts may be established in the State
92	92	Utilities Reliability Revenue Fund as necessary to administer the
93	93	fund or authorized projects. The financial assistance authorized
94	94	by this section may be provided directly to private entities or
95	95	utilities owned by public or private entities as provided by
96	96	general law.
97	97	(b) The legislature by general law may authorize the Texas
98	98	Water Development Board or that board's successor in function to
99	99	issue bonds, make loans or grants, and enter into related credit
100	100	agreements that are payable from revenues available to the State
101	101	Utilities Reliability Revenue Fund.
102	102	(c) In accordance with general law, the Texas Water
103	103	Development Board or that board's successor in function may, at
104	104	that entity's discretion, transfer money from the State Utilities
105	105	Reliability Revenue Fund to the State Utilities Reliability Fund.
106	106	(d) The State Utilities Reliability Revenue Fund consists
107	107	of:
108	108	(1) money appropriated to the fund;
109	109	(2) money transferred or deposited to the credit of
110	110	the fund by general law, including money from the State Utilities
111	111	Reliability Fund or any other source transferred or deposited to
112	112	the credit of the fund at the discretion of the Texas Water
113	113	Development Board or that board's successor in function as
114	114	authorized by general law;
115	115	(3) the proceeds of any fee or tax imposed by this
116	116	state that by statute is dedicated for deposit to the credit of the
117	117	fund;
118	118	(4) any other revenue that the legislature by statute
119	119	dedicates for deposit to the credit of the fund;
120	120	(5) investment earnings and interest earned on amounts
121	121	credited to the fund;
122	122	(6) the proceeds from the sale of revenue bonds issued
123	123	under this section by the Texas Water Development Board or that
124	124	board's successor in function for the purpose of providing money
125	125	for the fund;
126	126	(7) repayments of loans made from the fund; and
127	127	(8) money disbursed to the fund from the State
128	128	Utilities Reliability Fund as authorized by general law.
129	129	(e) The legislature by general law shall provide for the
130	130	manner in which the assets of the State Utilities Reliability
131	131	Revenue Fund may be used, subject to the limitations provided by
132	132	this section. The legislature by general law may provide for costs
133	133	of investment of the State Utilities Reliability Revenue Fund to be
134	134	paid from that fund.
135	135	(f) In each fiscal year in which amounts become due under
136	136	the bonds or agreements authorized by this section, the Texas Water
137	137	Development Board or that board's successor in function shall
138	138	transfer from revenue deposited to the credit of the State
139	139	Utilities Reliability Revenue Fund in that fiscal year an amount
140	140	that is sufficient to pay:
141	141	(1) the principal of and interest on the bonds that
142	142	mature or become due during that fiscal year; and
143	143	(2) any cost related to the bonds, including payments
144	144	under related credit agreements that become due during that fiscal
145	145	year.
146	146	(g) Any obligations authorized by general law to be issued
147	147	by the Texas Water Development Board or that board's successor in
148	148	function pursuant to this section shall be special obligations
149	149	payable solely from amounts in the State Utilities Reliability
150	150	Revenue Fund. Obligations issued by the Texas Water Development
151	151	Board or that board's successor in function pursuant to this
152	152	section may not be a constitutional state debt payable from the
153	153	general revenue of the state.
154	154	(h) Any dedication or appropriation of revenue to the credit
155	155	of the State Utilities Reliability Revenue Fund may not be modified
156	156	so as to impair any outstanding bonds secured by a pledge of that
157	157	revenue unless provisions have been made for a full discharge of
158	158	those bonds.
159	159	(i) Money in the State Utilities Reliability Revenue Fund is
160	160	dedicated by this constitution for purposes of Section 22, Article
161	161	VIII, of this constitution.
162	162	(j) This section is intended to establish a basic framework
163	163	of the State Utilities Reliability Revenue Fund, and the
164	164	legislature shall have the power to implement and effectuate the
165	165	design and objects of this section, including the power to delegate
166	166	such duties, responsibilities, functions, and authority to the
167	167	Texas Water Development Board or that board's successor in
168	168	function.
169	169	SECTION 2. This proposed constitutional amendment shall be
170	170	submitted to the voters at an election to be held May 7, 2022. The
171	171	ballot shall be printed to permit voting for or against the
172	172	proposition: "The constitutional amendment creating the State
173	173	Utilities Reliability Fund and the State Utilities Reliability
174	174	Revenue Fund to provide financial support for projects that enhance
175	175	the reliability and resiliency of water, electric, and natural gas
176	176	utilities, broadband providers, and power generation companies in
177	177	this state."