88R27014 JXC-D
 
  By: Schwertner S.J.R. No. 92
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment providing for the creation of
  the Texas energy fund and the authorization of other funding
  mechanisms to support the construction, maintenance, and
  modernization 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 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
  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,
  maintenance, and modernization of electric generating facilities.
         (c)  The entity administering the Texas energy fund may
  establish separate accounts in the fund as necessary or convenient
  for the fund's administration.
         (d)  The Texas energy 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 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 fund, the
  legislature may appropriate general revenue to be expended for any
  purpose related to construction, maintenance, or modernization of
  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 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 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 fund and the authorization of other
  funding mechanisms to support the construction, maintenance, and
  modernization of electric generating facilities."