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Senate Bill 2627 |
Senate Author: Schwertner et al. |
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Effective: See below |
House Sponsor: Hunter |
Senate Bill 2627 amends the Utilities Code to enact the Powering Texas Forward Act, which seeks to support the construction, maintenance, modernization, and operation of dispatchable electric generation facilities by creating the Texas Energy Fund, which is to be used to provide up to $7.2 billion in low‑interest loans to construct new facilities and upgrade existing facilities and in completion bonus grants for facilities that are interconnected in the ERCOT power region by a qualifying date. The bill also provides for up to $1 billion in grants to be used for transmission and distribution infrastructure and electric generating facilities outside the ERCOT power region for facility modernization, facility weatherization, reliability and resiliency facility enhancements, or vegetation management.
Senate Bill 2627 provides for up to $1.8 billion in funding for grants or loans for the design, procurement, installation, and use of stand‑alone, behind‑the‑meter, multiday backup power sources that can be used for islanding to ensure the reliability or adequacy of an electric power grid for facilities on which communities rely for health, safety, and well‑being.
Senate Bill 2627 takes effect on the date on which the constitutional amendment proposed by Senate Joint Resolution 93 takes effect. If that amendment is not approved by the voters, the bill has no effect.