H.B. No. 14 establishes the Texas Advanced Nuclear Energy Office, which is responsible for promoting advanced nuclear energy technologies in Texas. The office will provide strategic leadership, collaborate with stakeholders, and support the development of a nuclear energy supply chain. It will also identify financial barriers to nuclear projects and create a strategic plan for the sector's growth. The office is subject to the Texas Sunset Act, requiring a review for continuation by September 1, 2035. Additionally, the bill creates the Texas Advanced Nuclear Development Fund to provide reimbursement-based grants to eligible businesses involved in advanced nuclear projects, with specific benchmarks for fund usage.

The legislation outlines a reimbursement program for advanced nuclear project development and construction, covering eligible expenses such as technology development and regulatory fees, with grants covering up to 50% of qualifying costs. A completion bonus grant program is also introduced for operational advanced nuclear reactors connected to the ERCOT power grid, with grant amounts based on megawatt capacity. The office will evaluate applications based on management quality and potential state benefits, while ensuring confidentiality of submitted information. The implementation of these provisions is contingent upon legislative appropriations, and the act is set to take effect on September 1, 2025.

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