Issue Date: 2023-11-08
Revised Date:

Legal Cites

Origin:

S.J.R. 93 and S.B. 2627, 88th Leg., R.S.

Purpose

Created as a fund in the state treasury administered by the Public Utility Commission, held and invested by the Texas Treasury Safekeeping Trust Company.

The fund consists of transfers, appropriations, interest and investment earnings, gifts, grants, donations, and other revenue deposited to the fund as authorized by law. Money in the fund account may be spent without legislative appropriation.

Fund amounts are used to provide loans and grants to any entity to finance or incentivize the construction, maintenance, modernization, and operation of electric generating facilities and infrastructure, necessary to ensure the reliability and adequacy of the statewide electric power grid.

Used for loans to finance upgrades to existing dispatchable electric generating facilities and completion bonus grants for the construction of similar facilities in the ERCOT power region. Also for grants to transmission and distribution infrastructure and electric generating facilities in this state outside the ERCOT power region.

The reasonable expenses of managing the fund’s assets are paid from the fund.

Classification Group 02: Constitutional Funds Expendable for a Specific Purpose [?]
Depository Interest Retained in fund.
Disposition of Balance Accumulative
Appropriation Technique Appropriated by the Texas Constitution.

Note

S.J.R. 93, 88th Leg., R.S. approved by voters November 7, 2023.

USAS Values

USAS Title TEXAS ENERGY FUND
Consolidated Fund
State Fund Group 02 - CONSTITUTIONAL FDS EXP FOR SPECIFIC PURP
USAS Status A
Created by the state's constitution or receiving constitutionally dedicated revenue and expended for a specific purpose.