The bill, titled the Texas Advanced Nuclear and Innovative Energy Technologies Act, establishes a framework to support the development and deployment of advanced nuclear and innovative energy technologies in Texas. It creates the Texas Advanced Nuclear and Innovative Energy Technologies Office within the Governor's office, which is tasked with promoting these technologies. Additionally, the bill establishes the Texas Advanced Nuclear and Innovative Energy Technologies Fund, a dedicated account within the general revenue fund, which will be used to finance projects and activities related to advanced nuclear energy. The fund will consist of gifts, grants, donations, and other legislative designations.

The bill outlines two specific programs funded by the newly created account: the Tier 1 Project Development Program and the Tier 2 Project Construction Program. The Tier 1 program allows for reimbursement of qualifying expenses related to the early development and siting of advanced nuclear projects, while the Tier 2 program provides reimbursement for expenses associated with the construction of such projects. The bill emphasizes the importance of planning for the use of advanced nuclear reactors in Texas and mandates that the office provide the Public Utility Commission with information on grant recipients and funded projects. The act is set to take effect on September 1, 2025.

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