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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 Texas nuclear development fund to support the development, |
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construction, and operation of advanced nuclear reactor projects |
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for dispatchable electric generation. |
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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-r to read as follows: |
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Sec. 49-r. (a) The Texas nuclear development 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 Texas nuclear |
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development fund may be administered and used, without further |
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appropriation, only by the Public Utility Commission of Texas or |
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that commission's successor in function to provide grants to any |
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entity, based on recommendations from the office of the governor, |
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to finance or incentivize the development, construction, and |
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operation of advanced nuclear reactor projects and associated |
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infrastructure as necessary to ensure a reliable and adequate |
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supply of electric power in this state. |
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(c) The entity administering the Texas nuclear development |
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fund may establish separate accounts in the fund as necessary or |
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convenient for the fund's administration. |
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(d) The Texas nuclear development fund consists of: |
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(1) money credited, appropriated, or transferred to |
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the fund by or as authorized by the legislature; |
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(2) revenue that the legislature dedicates for deposit |
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to the credit of the fund; |
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(3) the returns received from the investment of the |
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money in the fund; and |
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(4) gifts, grants, and donations contributed to the |
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credit of the fund. |
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(e) The reasonable expenses of managing the Texas nuclear |
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development fund's assets shall be paid from the fund. |
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(f) The legislature by a provision of a general |
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appropriations act may provide for the transfer to the general |
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revenue fund of money that is subject to this section. |
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(g) The legislature may appropriate general revenue for the |
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purpose of depositing money to the credit of the Texas nuclear |
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development fund to be used for the purposes of that fund. |
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(h) For purposes of Section 22, Article VIII, of this |
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constitution: |
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(1) money in the Texas nuclear development fund is |
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dedicated by this constitution; and |
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(2) an appropriation of state tax revenues for the |
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purpose of depositing money to the credit of the Texas nuclear |
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development fund is treated as if it were an appropriation of |
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revenues dedicated by this constitution. |
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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 4, 2025. |
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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 Texas nuclear development fund to support the |
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development, construction, and operation of advanced nuclear |
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reactor projects for dispatchable electric generation." |