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A BILL TO BE ENTITLED
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AN ACT
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relating to the establishment of a power generation resiliency loan |
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program administered by the Public Utility Commission of Texas. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 31, Utilities Code, is amended by adding |
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Subchapter C to read as follows: |
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SUBCHAPTER C. POWER GENERATION RESILIENCY PROGRAM |
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Sec. 31.101. DEFINITION. In this subchapter, "resiliency |
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program" means the power generation resiliency program established |
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under Section 31.102. |
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Sec. 31.102. POWER GENERATION RESILIENCY PROGRAM. (a) The |
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commission shall establish a power generation resiliency program to |
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award loans to owners of power generation facilities for the |
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purpose of improving the facilities to prevent facility failures. |
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(b) The commission by rule shall establish criteria for |
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projects that qualify for a loan under the resiliency program and |
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the procedures for applying for a loan under the program. |
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(c) A loan granted under the resiliency program must be |
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repaid over a period as provided by a binding agreement between the |
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owner of the facility to be improved and the commission. |
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(d) The comptroller shall oversee each loan the commission |
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grants under the resiliency program. |
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Sec. 31.103. POWER GENERATION RESILIENCY REVOLVING |
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ACCOUNT. (a) The power generation resiliency revolving account is |
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an account in the general revenue fund. |
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(b) The account consists of: |
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(1) appropriations of money to the account by the |
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legislature; |
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(2) gifts, donations, and grants, including federal |
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grants; |
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(3) payments on loans made under Section 31.102; and |
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(4) interest earned on the investment of the money in |
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the account. |
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(c) Money in the account may be appropriated only to the |
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commission for the purpose of providing loans to power generators |
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under the resiliency program. |
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SECTION 2. This Act takes effect September 1, 2021. |