LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 89TH LEGISLATIVE REGULAR SESSION March 18, 2025 TO: Honorable Ken King, Chair, House Committee on State Affairs FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HJR8 by Harris (Proposing a constitutional amendment providing for the creation of the Texas nuclear development fund to support the development, construction, and operation of advanced nuclear reactor projects.), As Introduced No fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $191,689. The resolution would amend Article III of the Constitution, adding Section 49-r, which creates the Texas Nuclear Development Fund (the Fund) in the state treasury outside of the General Revenue Fund.The Fund could be used, without further appropriation, to provide grants to entities for financing or incentivizing the development, construction, and operation of advanced nuclear reactor projects, including associated infrastructure, necessary to ensure the reliability and adequacy of an electric power grid in the state. The Fund would consist of money credited, appropriated, or transferred to the fund, or as authorized by the Legislature. It would also consist of dedicated revenues, investment earnings and interest, and any gifts, grants and donations to the fund. Money in the fund would would be constitutionally dedicated, and therefore, not subject to the spending limit provided by Section 22, Article VIII of the Constitution.Adoption of the proposed constitutional amendment alone would have no fiscal implications to the state. Any fiscal impact would result from Legislative appropriations or transfers, or other legislation affecting the fund.Note: This legislation would do one or more of the following: create or recreate a dedicated account in the General Revenue Fund, create or recreate a special or trust fund either in, with, or outside the Treasury, or create a dedicated revenue source. The fund, account, or revenue dedication included in this bill would be subject to funds consolidation review by the current Legislature. Local Government ImpactNo fiscal implication to units of local government is anticipated. Source Agencies: b > td > 304 Comptroller of Public Accounts LBB Staff: b > td > JMc, WP, LCO, CSmi, BRI
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 89TH LEGISLATIVE REGULAR SESSION
March 18, 2025
TO: Honorable Ken King, Chair, House Committee on State Affairs FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HJR8 by Harris (Proposing a constitutional amendment providing for the creation of the Texas nuclear development fund to support the development, construction, and operation of advanced nuclear reactor projects.), As Introduced
TO: Honorable Ken King, Chair, House Committee on State Affairs
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HJR8 by Harris (Proposing a constitutional amendment providing for the creation of the Texas nuclear development fund to support the development, construction, and operation of advanced nuclear reactor projects.), As Introduced
Honorable Ken King, Chair, House Committee on State Affairs
Honorable Ken King, Chair, House Committee on State Affairs
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
HJR8 by Harris (Proposing a constitutional amendment providing for the creation of the Texas nuclear development fund to support the development, construction, and operation of advanced nuclear reactor projects.), As Introduced
HJR8 by Harris (Proposing a constitutional amendment providing for the creation of the Texas nuclear development fund to support the development, construction, and operation of advanced nuclear reactor projects.), As Introduced
No fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $191,689.
No fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $191,689.
The resolution would amend Article III of the Constitution, adding Section 49-r, which creates the Texas Nuclear Development Fund (the Fund) in the state treasury outside of the General Revenue Fund.The Fund could be used, without further appropriation, to provide grants to entities for financing or incentivizing the development, construction, and operation of advanced nuclear reactor projects, including associated infrastructure, necessary to ensure the reliability and adequacy of an electric power grid in the state. The Fund would consist of money credited, appropriated, or transferred to the fund, or as authorized by the Legislature. It would also consist of dedicated revenues, investment earnings and interest, and any gifts, grants and donations to the fund. Money in the fund would would be constitutionally dedicated, and therefore, not subject to the spending limit provided by Section 22, Article VIII of the Constitution.Adoption of the proposed constitutional amendment alone would have no fiscal implications to the state. Any fiscal impact would result from Legislative appropriations or transfers, or other legislation affecting the fund.Note: This legislation would do one or more of the following: create or recreate a dedicated account in the General Revenue Fund, create or recreate a special or trust fund either in, with, or outside the Treasury, or create a dedicated revenue source. The fund, account, or revenue dedication included in this bill would be subject to funds consolidation review by the current Legislature.
The Fund could be used, without further appropriation, to provide grants to entities for financing or incentivizing the development, construction, and operation of advanced nuclear reactor projects, including associated infrastructure, necessary to ensure the reliability and adequacy of an electric power grid in the state. The Fund would consist of money credited, appropriated, or transferred to the fund, or as authorized by the Legislature. It would also consist of dedicated revenues, investment earnings and interest, and any gifts, grants and donations to the fund. Money in the fund would would be constitutionally dedicated, and therefore, not subject to the spending limit provided by Section 22, Article VIII of the Constitution.
Adoption of the proposed constitutional amendment alone would have no fiscal implications to the state. Any fiscal impact would result from Legislative appropriations or transfers, or other legislation affecting the fund.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: b > td > JMc, WP, LCO, CSmi, BRI
JMc, WP, LCO, CSmi, BRI