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Proposing a constitutional amendment providing for the creation of the State Utilities Reliability Fund and the State Utilities Reliability Revenue Fund to provide financial support for projects that enhance the reliability of water, electricity, natural gas, and broadband utilities in this state.
No significant fiscal implication to the State is anticipated, other than the cost of publication.
The cost to the state for publication of the resolution is $178,333.
HJR 2 proposes a constitutional amendment to create the State Utilities Reliability Fund (SURF) and the State Utilities Reliability Revenue Fund (SURRF). These funds are intended to serve as a utility infrastructure bank in order to enhance the financing capabilities of power generation companies, water, electricity, natural gas and broadband utilities under a constitutionally created program and a revenue bond program. Money in the fund will be available immediately to provide support for market-rate loans, low-interest loans, longer repayment terms for loans, and deferral of loan payments. The purpose of the fund is to enhance the reliability of energy providers, water, electricity, natural gas and broadband utilities with a focus on increasing weatherization and generation capacity. This fund will be managed by the Texas Water Development board.
Texas Action is opposed to HJR 2 which represents a significant growth in government and would violate our limited government and free market principles.