By: Schwertner, King S.J.R. No. 1
         (In the Senate - Filed March 9, 2023; March 9, 2023, read
  first time and referred to Committee on Business & Commerce;
  April 3, 2023, reported adversely, with favorable Committee
  Substitute by the following vote:  Yeas 8, Nays 0, three present not
  voting; April 3, 2023, sent to printer.)
Click here to see the committee vote
 
  COMMITTEE SUBSTITUTE FOR S.J.R. No. 1 By:  Nichols
 
 
SENATE JOINT RESOLUTION
 
 
  proposing a constitutional amendment providing for the creation of
  the Texas energy insurance fund and the authorization of other
  funding mechanisms to support the construction and operation of
  electric generating facilities.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Article III, Texas Constitution, is amended by
  adding Section 49-q to read as follows:
         Sec. 49-q.  (a) The Texas energy insurance fund is created
  as a special fund in the state treasury outside the general revenue
  fund.
         (b)  As provided by general law, money in the Texas energy
  insurance fund may be administered and used, without further
  appropriation, only by the Public Utility Commission of Texas or
  that commission's successor in function to provide loans to finance
  the construction and operation of electric generating facilities.
         (c)  The entity administering the Texas energy insurance
  fund may establish separate accounts in the fund as necessary or
  convenient for the fund's administration.
         (d)  The Texas energy insurance fund consists of:
               (1)  money transferred or deposited to the credit of
  the fund by or as authorized by law, including money from any source
  transferred or deposited to the credit of the fund at the discretion
  of the entity administering the fund;
               (2)  revenue, including the proceeds of any fee,
  assessment, or tax imposed by this state, that general law
  dedicates for deposit to the credit of the fund; and
               (3)  investment earnings and interest earned on money
  in the fund.
         (e)  The legislature may appropriate general revenue for the
  purpose of depositing money to the credit of the Texas energy
  insurance fund to be used for the purposes of that fund.
         (f)  Regardless of whether the legislature directs that the
  money be deposited to the credit of the Texas energy insurance fund,
  the legislature may appropriate general revenue to be expended for
  any purpose related to constructing and operating electric
  generating facilities to ensure the reliability or adequacy of an
  electric power grid in this state.
         (g)  For purposes of Section 22, Article VIII, of this
  constitution:
               (1)  money in the Texas energy insurance fund is
  dedicated by this constitution; and
               (2)  an appropriation of state tax revenues for the
  purpose of depositing money to the credit of the Texas energy
  insurance fund is treated as if it were an appropriation of revenues
  dedicated by this constitution.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 7, 2023.
  The ballot shall be printed to permit voting for or against the
  proposition: "The constitutional amendment providing for the
  creation of the Texas energy insurance fund and the authorization
  of other funding mechanisms to support the construction and
  operation of electric generating facilities."
 
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