Created as a fund in the state treasury administered by the comptroller 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 may be spent without legislative appropriation.

The fund may be used only for:

• The state’s broadband development program (Chapter 490I)
• 9-1-1 and next generation 9-1-1 services, including its costs of equipment, operations, and administration (Chapter 771, Health and Safety Code)
• Texas Broadband Pole Replacement Program
• Matching funds for federal money provided for the Broadband Equity, Access, and Deployment Program
• Expanding access to broadband service in economically distressed communities.

H.B. 9 required a one-time $155 million transfer from the fund to Fund 0195 – Next Generation 9-1-1 Service and a $75 million one-time transfer to Fund 0188 - Broadband Pole Replacement by 9/15/2024.

H.J.R. 125, 88th Leg., R.S. approved by voters November 7, 2023.

Government Code, Secs. 403.603 and 403.604 redesignated 403.653 and 403.654 by H.B. 1620, 89th Leg., R.S.