(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.

Terms Used In Texas Constitution Art. 3 sec. 49-q

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.

(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:
(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 energy 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 energy fund to be used for the purposes of that fund.
(h) For purposes of § 22, Article VIII, of this constitution:
(1) money in the Texas energy 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 energy fund is treated as if it were an appropriation of revenues dedicated by this constitution.