| 1 | 1 | | By: Hancock S.B. No. 2981 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | |
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| 6 | 6 | | A BILL TO BE ENTITLED |
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| 7 | 7 | | AN ACT |
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| 8 | 8 | | relating to funding for recycling projects. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 386.250, Health and Safety Code, is |
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| 11 | 11 | | amended to read as follows: |
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| 12 | 12 | | Sec. 386.250. TEXAS EMISSIONS REDUCTION PLAN FUND. (a) The |
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| 13 | 13 | | Texas emissions reduction plan fund is established as a trust fund |
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| 14 | 14 | | outside the state treasury to be held by the comptroller and |
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| 15 | 15 | | administered by the commission as trustee. Money in the fund may be |
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| 16 | 16 | | spent without legislative appropriation and may be used only as |
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| 17 | 17 | | provided by this chapter. Interest and other earnings on the |
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| 18 | 18 | | balance of the fund shall be credited to the fund. |
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| 19 | 19 | | (b) The fund consists of: |
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| 20 | 20 | | (1) the amount of money deposited to the credit of the |
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| 21 | 21 | | fund under: |
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| 22 | 22 | | (A) Section 386.056; |
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| 23 | 23 | | (B) Sections 151.0515 and 152.0215, Tax Code; and |
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| 24 | 24 | | (C) Sections 501.138, 502.358, and 548.5055, |
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| 25 | 25 | | Transportation Code; and |
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| 26 | 26 | | (2) grant money recaptured under Section 386.111(d) |
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| 27 | 27 | | and Chapter 391. |
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| 28 | 28 | | (c) If the fund earns at least $10,000,000 in interest, the |
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| 29 | 29 | | commission shall allocate $10,000,000 from the fund to support |
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| 30 | 30 | | recycling infrastructure projects that reduce emissions as part of |
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| 31 | 31 | | the Recycling Innovation Grant Program under Section 361.0155. If |
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| 32 | 32 | | the fund earns less than $10,000,000 in interest, the commission |
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| 33 | 33 | | shall allocate the equivalent amount of interest earned by the fund |
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| 34 | 34 | | to support recycling infrastructure projects that reduce emissions |
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| 35 | 35 | | as part of the Recycling Innovation Grant Program under Section |
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| 36 | 36 | | 361.0155. |
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| 37 | 37 | | (cd) Not later than the 30th day after the last day of each |
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| 38 | 38 | | state fiscal biennium, the commission shall transfer the |
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| 39 | 39 | | unencumbered balance of the fund remaining on the last day of the |
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| 40 | 40 | | state fiscal biennium to the credit of the state highway fund for |
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| 41 | 41 | | use by the Texas Department of Transportation for projects |
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| 42 | 42 | | described by Section 386.051(b)(19). |
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| 43 | 43 | | SECTION 2. This Act takes effect immediately if it receives |
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| 44 | 44 | | a vote of two-thirds of all the members elected to each house, as |
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| 45 | 45 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 46 | 46 | | Act does not receive the vote necessary for immediate effect, this |
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| 47 | 47 | | Act takes effect September 1, 2025. |
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