Texas 2023 - 88th Regular

Texas Senate Bill SJR1 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		By: Schwertner, King S.J.R. No. 1
2		-	SENATE JOINT RESOLUTION
	2	+	(In the Senate - Filed March 9, 2023; March 9, 2023, read
	3	+	first time and referred to Committee on Business & Commerce;
	4	+	April 3, 2023, reported adversely, with favorable Committee
	5	+	Substitute by the following vote: Yeas 8, Nays 0, three present not
	6	+	voting; April 3, 2023, sent to printer.)
	7	+	Click here to see the committee vote
	8	+	COMMITTEE SUBSTITUTE FOR S.J.R. No. 1 By: Nichols
3	9
4	10
	11	+	SENATE JOINT RESOLUTION
5	12		proposing a constitutional amendment providing for the creation of
6	13		the Texas energy insurance fund and the authorization of other
7	14		funding mechanisms to support the construction and operation of
8	15		electric generating facilities.
9	16		BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	17		SECTION 1. Article III, Texas Constitution, is amended by
11	18		adding Section 49-q to read as follows:
12	19		Sec. 49-q. (a) The Texas energy insurance fund is created
13	20		as a special fund in the state treasury outside the general revenue
14	21		fund.
15	22		(b) As provided by general law, money in the Texas energy
16	23		insurance fund may be administered and used, without further
17	24		appropriation, only by the Public Utility Commission of Texas or
18	25		that commission's successor in function to provide loans to finance
19	26		the construction and operation of electric generating facilities.
20	27		(c) The entity administering the Texas energy insurance
21	28		fund may establish separate accounts in the fund as necessary or
22	29		convenient for the fund's administration.
23	30		(d) The Texas energy insurance fund consists of:
24	31		(1) money transferred or deposited to the credit of
25	32		the fund by or as authorized by law, including money from any source
26	33		transferred or deposited to the credit of the fund at the discretion
27	34		of the entity administering the fund;
28	35		(2) revenue, including the proceeds of any fee,
29	36		assessment, or tax imposed by this state, that general law
30	37		dedicates for deposit to the credit of the fund; and
31	38		(3) investment earnings and interest earned on money
32	39		in the fund.
33	40		(e) The legislature may appropriate general revenue for the
34	41		purpose of depositing money to the credit of the Texas energy
35	42		insurance fund to be used for the purposes of that fund.
36	43		(f) Regardless of whether the legislature directs that the
37	44		money be deposited to the credit of the Texas energy insurance fund,
38	45		the legislature may appropriate general revenue to be expended for
39	46		any purpose related to constructing and operating electric
40	47		generating facilities to ensure the reliability or adequacy of an
41	48		electric power grid in this state.
42	49		(g) For purposes of Section 22, Article VIII, of this
43	50		constitution:
44	51		(1) money in the Texas energy insurance fund is
45	52		dedicated by this constitution; and
46	53		(2) an appropriation of state tax revenues for the
47	54		purpose of depositing money to the credit of the Texas energy
48	55		insurance fund is treated as if it were an appropriation of revenues
49	56		dedicated by this constitution.
50	57		SECTION 2. This proposed constitutional amendment shall be
51	58		submitted to the voters at an election to be held November 7, 2023.
52	59		The ballot shall be printed to permit voting for or against the
53	60		proposition: "The constitutional amendment providing for the
54	61		creation of the Texas energy insurance fund and the authorization
55	62		of other funding mechanisms to support the construction and
56	63		operation of electric generating facilities."
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