The bill, titled the Texas Advanced Nuclear and Innovative Energy Technologies Act, aims to establish a framework for funding mechanisms to support the development and deployment of advanced nuclear and innovative energy technologies in Texas. It introduces a new chapter in the Government Code, specifically Chapter 483, which defines key terms related to advanced nuclear reactors and establishes the Texas Advanced Nuclear and Innovative Energy Technologies Office within the Governor's office. This office is tasked with promoting the development of these technologies and will oversee the newly created Texas Advanced Nuclear and Innovative Energy Technologies Fund, which will be financed through gifts, grants, donations, and other legislative designations.

The bill outlines two specific programs under the fund: a Tier 1 Project Development Program, which allows for reimbursement of qualifying expenses related to the early development and siting of advanced nuclear projects, and a Tier 2 Project Construction Program, which provides reimbursement for expenses associated with the construction of such projects. The bill is set to take effect on September 1, 2025, signaling a significant step towards enhancing Texas's energy landscape through advanced nuclear technology.

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