Sen. Charles Perry’s SB 857 / SJR 45 relates to a state fund established through a Constitutional amendment (requires voter approval) to allow certain types of electric generation developers to borrow up to 25% of the cost of constructing the facility.
- These generation facilities include clean coal, natural gas, or “another source of heat” (80% of funds), nuclear or hydro (10%), and transmission facilities used to interconnect the aforementioned generating facilities (10%).
- Generation maintenance may be funded as well but only if adequate emergency reserve capacity.
- Several specific rules govern the formation of the fund and the advisory committee. A committee of state officials will govern the state fund (comptroller or designee, 3 Senate members, and 3 House members, with specifics) with co-presidents from the Senate and House. The advisory committee expires 9/1/2033 unless an extension is approved.
- The source of money for the fund is a fee included on all retail electric provider bills (as a % of gross receipts). REPs may pass the cost to customers if included as a line item on the customer’s bill.