BILL ANALYSIS Senate Research Center S.B. 2967 89R19861 TYPED By: Schwertner Business & Commerce 4/7/2025 As Filed AUTHOR'S / SPONSOR'S STATEMENT OF INTENT Texas is synonymous with power production and generates more electricity than any other state. With its abundant natural resources and business-friendly environment, Texas is an ideal hub for investments in emerging technologies that can deliver dispatchable power. As aging power plants retire and electricity demand continues to rise, accelerating the development of innovative energy solutions has become increasingly relevant. Advancements in nuclear energy, in particular, offer promising opportunities for delivering clean, firm, and dispatchable power, which is essential to long-term grid reliability and economic growth in Texas. However, the path to deploying new nuclear technologies is slowed by regulatory processes and high upfront costs. S.B. 2967, the Texas Advanced Nuclear and Innovative Energy Technologies Act, proposes a state-supported framework to foster the development and deployment of nuclear and innovative energy technologies. S.B. 2967 aims to position Texas as a national leader in next-generation energy, strengthening the state's energy security and economic competitiveness. As proposed, S.B. 2967 amends current law relating to funding mechanisms to support the siting, development, construction, and deployment of advanced nuclear and innovative energy technologies in this state. RULEMAKING AUTHORITY This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Subtitle F, Title 4, Government Code, by adding Chapter 483, as follows: CHAPTER 483. Texas Advanced Nuclear and Innovative Energy Technologies Act SUBCHAPTER A. GENERAL PROVISIONS Sec. 483.001. DEFINITIONS. Defines "advanced nuclear reactor," "advanced nuclear reactor fuel," "commission," and "office." SUBCHAPTER B. TEXAS ADVANCED NUCLEAR AND INNOVATIVE ENERGY TECHNOLOGIES OFFICE Sec. 483.101. (a) Provides that the Texas Advanced Nuclear and Innovative Energy Technologies Office (office) is an office within the Office of the Governor. (b) Provides that the purpose of the office is to support the development and deployment of advanced nuclear and innovative energy technologies in this state. SUBCHAPTER C. TEXAS ADVANCED NUCLEAR AND INNOVATIVE ENERGY TECHNOLOGIES FUND Sec. 483.201. (a) Provides that the Texas Advanced Nuclear and Innovative Energy Technologies Fund (fund) is created as a dedicated account within the general revenue fund administered by the office and used for the purposes authorized by this chapter. Provides that the fund consists of gifts, grants, or donations to the fund and money from any other source designated by the legislature. (b) Requires the office to provide the Public Utility Commission of Texas (PUC) with information regarding grant recipients and funded projects. Requires the PUC to plan for the use of advanced nuclear reactors in this state. Sec. 483.202. TIER 1 PROJECT DEVELOPMENT PROGRAM. (a) Authorizes the office, using money in the fund established in Section 483.201, to reimburse qualifying expenses associated with the early development and siting activities of an advanced nuclear project in this state. Sec. 483.203. TIER 2 PROJECT CONSTRUCTION PROGRAM. (a) Authorizes the office, using money in the fund established in Section 483.201, to reimburse qualifying expenses associated with the construction of an advanced nuclear reactor project in this state. SECTION 2. Effective date: September 1, 2025.
BILL ANALYSIS
Senate Research Center S.B. 2967
89R19861 TYPED By: Schwertner
Business & Commerce
4/7/2025
As Filed
Senate Research Center
S.B. 2967
89R19861 TYPED
By: Schwertner
Business & Commerce
4/7/2025
As Filed
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
Texas is synonymous with power production and generates more electricity than any other state. With its abundant natural resources and business-friendly environment, Texas is an ideal hub for investments in emerging technologies that can deliver dispatchable power. As aging power plants retire and electricity demand continues to rise, accelerating the development of innovative energy solutions has become increasingly relevant.
Advancements in nuclear energy, in particular, offer promising opportunities for delivering clean, firm, and dispatchable power, which is essential to long-term grid reliability and economic growth in Texas. However, the path to deploying new nuclear technologies is slowed by regulatory processes and high upfront costs.
S.B. 2967, the Texas Advanced Nuclear and Innovative Energy Technologies Act, proposes a state-supported framework to foster the development and deployment of nuclear and innovative energy technologies. S.B. 2967 aims to position Texas as a national leader in next-generation energy, strengthening the state's energy security and economic competitiveness.
As proposed, S.B. 2967 amends current law relating to funding mechanisms to support the siting, development, construction, and deployment of advanced nuclear and innovative energy technologies in this state.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Subtitle F, Title 4, Government Code, by adding Chapter 483, as follows:
CHAPTER 483. Texas Advanced Nuclear and Innovative Energy Technologies Act
SUBCHAPTER A. GENERAL PROVISIONS
Sec. 483.001. DEFINITIONS. Defines "advanced nuclear reactor," "advanced nuclear reactor fuel," "commission," and "office."
SUBCHAPTER B. TEXAS ADVANCED NUCLEAR AND INNOVATIVE ENERGY TECHNOLOGIES OFFICE
Sec. 483.101. (a) Provides that the Texas Advanced Nuclear and Innovative Energy Technologies Office (office) is an office within the Office of the Governor.
(b) Provides that the purpose of the office is to support the development and deployment of advanced nuclear and innovative energy technologies in this state.
SUBCHAPTER C. TEXAS ADVANCED NUCLEAR AND INNOVATIVE ENERGY TECHNOLOGIES FUND
Sec. 483.201. (a) Provides that the Texas Advanced Nuclear and Innovative Energy Technologies Fund (fund) is created as a dedicated account within the general revenue fund administered by the office and used for the purposes authorized by this chapter. Provides that the fund consists of gifts, grants, or donations to the fund and money from any other source designated by the legislature.
(b) Requires the office to provide the Public Utility Commission of Texas (PUC) with information regarding grant recipients and funded projects. Requires the PUC to plan for the use of advanced nuclear reactors in this state.
Sec. 483.202. TIER 1 PROJECT DEVELOPMENT PROGRAM. (a) Authorizes the office, using money in the fund established in Section 483.201, to reimburse qualifying expenses associated with the early development and siting activities of an advanced nuclear project in this state.
Sec. 483.203. TIER 2 PROJECT CONSTRUCTION PROGRAM. (a) Authorizes the office, using money in the fund established in Section 483.201, to reimburse qualifying expenses associated with the construction of an advanced nuclear reactor project in this state.
SECTION 2. Effective date: September 1, 2025.