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A JOINT RESOLUTION
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proposing a constitutional amendment providing for the creation of |
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the electric generating facility fund to finance construction and |
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maintenance of electric generating and transmission facilities. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Article III, Texas Constitution, is amended by |
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adding Section 49-q to read as follows: |
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Sec. 49-q. (a) The electric generating facility fund is |
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created as a special fund in the state treasury outside the general |
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revenue fund. |
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(b) As provided by general law, money in the electric |
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generating facility fund may be administered and used, without |
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further appropriation, only by the Public Utility Commission of |
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Texas or that commission's successor in function to provide loans |
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to finance the construction and maintenance of electric generating |
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facilities and associated transmission facilities in this state. |
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(c) The agency administering the electric generating |
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facility fund may establish separate accounts in the fund as |
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necessary or convenient for the fund's administration. |
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(d) The electric generating facility fund consists of: |
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(1) money transferred or deposited to the credit of |
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the fund by or as authorized by law, including money from any source |
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transferred or deposited to the credit of the fund at the discretion |
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of the Public Utility Commission of Texas or that commission's |
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successor in function; |
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(2) revenue, including the proceeds of any fee, |
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assessment, or tax imposed by this state, that general law |
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dedicates for deposit to the credit of the fund; and |
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(3) investment earnings and interest earned on money |
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in the fund. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 7, 2023. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment providing for the |
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creation of the electric generating facility fund to finance |
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construction and maintenance of electric facilities." |