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A BILL TO BE ENTITLED
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AN ACT
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relating to loans and grants under the Texas energy fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 34.0104, Utilities Code, is amended by |
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adding Subsection (b-1) and amending Subsections (d) and (l) to |
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read as follows: |
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(b-1) Notwithstanding Subsection (b)(3), a construction |
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loan provided to a municipally owned utility, or an instrumentality |
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of a municipal corporation established for the benefit of a |
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municipally owned utility, may be in the form of a public security, |
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as defined by Section 1201.002, Government Code, issued by the loan |
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applicant if the public security is payable on a parity basis with |
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other debt of the loan applicant secured by a senior lien on net |
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revenues of the facility or the loan applicant's utility system. |
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(d) Outstanding loans provided under this section [and |
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grants provided under Section 34.0105, considered together,] may |
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not support the addition or construction of more than 10,000 |
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megawatts of generation capacity. |
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(l) The commission may [not] disburse the initial funds for |
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a loan under this section after December 31, 2025, if the commission |
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determines that market factors necessitate an extension of the |
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deadline for disbursement of initial funds. An applicant may |
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request disbursement of initial funds after December 31, 2025. The |
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commission shall approve or deny the request on a case-by-case |
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basis. |
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SECTION 2. Section 34.0105, Utilities Code, is amended by |
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adding Subsection (d-1) to read as follows: |
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(d-1) Grants provided under this section may not support the |
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construction of more than 10,000 megawatts of generation capacity. |
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SECTION 3. The changes in law made by this Act apply to a |
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loan the application for which was submitted under Section 34.0104, |
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Utilities Code, to the Public Utility Commission of Texas before |
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the effective date of this Act if the application is pending before |
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the commission on the effective date of this Act. |
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SECTION 4. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2025. |