Proposing a constitutional amendment providing for the creation of the Texas nuclear development fund to support the development, construction, and operation of advanced nuclear reactor projects for dispatchable electric generation.

89(R) HJR 8 - Engrossed version - Bill Text

89R19821 SCR-F

By: Harris

H.J.R. No. 8

A JOINT RESOLUTION

proposing a constitutional amendment providing for the creation of

the Texas nuclear development fund to support the development,

construction, and operation of advanced nuclear reactor projects

for dispatchable electric generation.

BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Article III, Texas Constitution, is amended by

adding Section 49-r to read as follows:

Sec.

49-r.

(a) The Texas nuclear development 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 nuclear

development 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 grants to any

entity, based on recommendations from the office of the governor,

to finance or incentivize the development, construction, and

operation of advanced nuclear reactor projects and associated

infrastructure as necessary to ensure a reliable and adequate

supply of electric power in this state.

(c)

The entity administering the Texas nuclear development

fund may establish separate accounts in the fund as necessary or

convenient for the fund's administration.

(d) The Texas nuclear development fund consists of:

(1)

money credited, appropriated, or transferred to

the fund by or as authorized by the legislature;

(2)

revenue that the legislature dedicates for deposit

to the credit of the fund;

(3)

the returns received from the investment of the

money in the fund; and

(4)

gifts, grants, and donations contributed to the

credit of the fund.

(e)

The reasonable expenses of managing the Texas nuclear

development fund's assets shall be paid from the fund.

(f)

The legislature by a provision of a general

appropriations act may provide for the transfer to the general

revenue fund of money that is subject to this section.

(g)

The legislature may appropriate general revenue for the

purpose of depositing money to the credit of the Texas nuclear

development fund to be used for the purposes of that fund.

(h)

For purposes of Section 22, Article VIII, of this

constitution:

(1)

money in the Texas nuclear development fund is

dedicated by this constitution; and

(2)

an appropriation of state tax revenues for the

purpose of depositing money to the credit of the Texas nuclear

development fund is treated as if it were an appropriation of

revenues dedicated by this constitution.

SECTION 2. This proposed constitutional amendment shall be

submitted to the voters at an election to be held November 4, 2025.

The ballot shall be printed to permit voting for or against the

proposition: "The constitutional amendment providing for the

creation of the Texas nuclear development fund to support the

development, construction, and operation of advanced nuclear

reactor projects for dispatchable electric generation."