Texas The Texas Constitution
§ 3.49-q — TEXAS ENERGY FUND
CN § 3.49-q
Statute text
View on source(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 and grants to any entity to finance or incentivize the construction, maintenance, modernization, and operation of electric generating facilities, including associated infrastructure, necessary to ensure the reliability or adequacy of an electric power grid in this state. The commission shall allocate money from the fund for loans and grants to eligible projects:
(1)for electric generating facilities that serve as backup power sources; and
(2)in each region of the state that is part of an electric power grid in proportion to that region's load share.
(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:
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