S.B. No. 2268 amends the Utilities Code regarding loans and grants under the Texas energy fund. The bill introduces a new provision allowing construction loans to municipally owned utilities to be issued as public securities, provided they are secured by a senior lien on net revenues. Additionally, it modifies the existing regulations to clarify that outstanding loans may not support the construction of more than 10,000 megawatts of generation capacity. The bill also allows the Public Utility Commission to extend the deadline for disbursing initial funds for loans beyond December 31, 2025, if market factors necessitate such an extension, and requires case-by-case approval for any requests made after this date.

Furthermore, the bill establishes that grants under the Texas energy fund are also limited to supporting the construction of no more than 10,000 megawatts of generation capacity. The changes made by this Act will apply to pending loan applications submitted before its effective date. The Act will take effect immediately upon receiving a two-thirds vote from both houses of the legislature or on September 1, 2025, if such a vote is not achieved.

Statutes affected:
Introduced: Utilities Code 34.0104 (Utilities Code 34)
Senate Committee Report: Utilities Code 34.0104 (Utilities Code 34)
Engrossed: Utilities Code 34.0104, Utilities Code 34.0105 (Utilities Code 34)