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