Texas 2023 - 88th Regular

Texas Senate Bill SJR92 Compare Versions

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Old	New	Differences
1	1	88R27014 JXC-D
2	2	By: Schwertner S.J.R. No. 92
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5	5	A JOINT RESOLUTION
6	6	proposing a constitutional amendment providing for the creation of
7	7	the Texas energy fund and the authorization of other funding
8	8	mechanisms to support the construction, maintenance, and
9	9	modernization of electric generating facilities.
10	10	BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
11	11	SECTION 1. Article III, Texas Constitution, is amended by
12	12	adding Section 49-q to read as follows:
13	13	Sec. 49-q. (a) The Texas energy fund is created as a
14	14	special fund in the state treasury outside the general revenue
15	15	fund.
16	16	(b) As provided by general law, money in the Texas energy
17	17	fund may be administered and used, without further appropriation,
18	18	only by the Public Utility Commission of Texas or that commission's
19	19	successor in function to provide loans to finance the construction,
20	20	maintenance, and modernization of electric generating facilities.
21	21	(c) The entity administering the Texas energy fund may
22	22	establish separate accounts in the fund as necessary or convenient
23	23	for the fund's administration.
24	24	(d) The Texas energy fund consists of:
25	25	(1) money transferred or deposited to the credit of
26	26	the fund by or as authorized by law, including money from any source
27	27	transferred or deposited to the credit of the fund at the discretion
28	28	of the entity administering the fund;
29	29	(2) revenue, including the proceeds of any fee,
30	30	assessment, or tax imposed by this state, that general law
31	31	dedicates for deposit to the credit of the fund; and
32	32	(3) investment earnings and interest earned on money
33	33	in the fund.
34	34	(e) The legislature may appropriate general revenue for the
35	35	purpose of depositing money to the credit of the Texas energy fund
36	36	to be used for the purposes of that fund.
37	37	(f) Regardless of whether the legislature directs that the
38	38	money be deposited to the credit of the Texas energy fund, the
39	39	legislature may appropriate general revenue to be expended for any
40	40	purpose related to construction, maintenance, or modernization of
41	41	electric generating facilities to ensure the reliability or
42	42	adequacy of an electric power grid in this state.
43	43	(g) For purposes of Section 22, Article VIII, of this
44	44	constitution:
45	45	(1) money in the Texas energy fund is dedicated by this
46	46	constitution; and
47	47	(2) an appropriation of state tax revenues for the
48	48	purpose of depositing money to the credit of the Texas energy fund
49	49	is treated as if it were an appropriation of revenues dedicated by
50	50	this constitution.
51	51	SECTION 2. This proposed constitutional amendment shall be
52	52	submitted to the voters at an election to be held November 7, 2023.
53	53	The ballot shall be printed to permit voting for or against the
54	54	proposition: "The constitutional amendment providing for the
55	55	creation of the Texas energy fund and the authorization of other
56	56	funding mechanisms to support the construction, maintenance, and
57	57	modernization of electric generating facilities."