A $750M nuclear power fund advances in Texas House

AUSTIN – The Dallas Morning News reports that the Texas House approved a bill that would create a nuclear power incentive program designed to jump-start a long-dormant energy industry. Its passage is a step forward in an energy arms race against China and Russia, the bill’s author said. The proposal would create a grant program for the development of a nuclear industry in Texas that could cost taxpayers as much as $2.75 billion if voters approve a related amendment to the Texas Constitution. “Investment in nuclear technology has now become a strategic and moral imperative for our country,” Rep. Cody Harris, R-Palestine, said. “The global race for energy dominance is not just an economic competition. It is a geopolitical contest with immense national security implications.” The proposal was approved with bipartisan support on a voice vote.

House Bill 14 would create a Texas Advanced Nuclear Energy Office overseen by the governor. The office would manage the state’s grant program and assist nuclear development organizations in navigating the federal permitting process. The House budgeted $750 million for the program. Harris has a proposed amendment to the Texas Constitution that could increase its budget by $2 billion. Lawmakers haven’t voted on the amendment. Eligible projects could receive grants of up to $200 million for those that produce electricity. Businesses and universities researching and developing nuclear technology would be eligible for $12.5 million grants. Rep. Brian Harrison, R-Midlothian, opposed the bill. He said he supports the nuclear industry but creating a new state office and an incentive program was not the way forward. “It creates more government. It creates more bureaucracy,” Harrison said. “It adds more bureaucrats and, guys, this is pure crony corporatism and corporate welfare.” The bill requires passage from the Senate before it can become law. A Senate companion to the bill has yet to advance in that chamber. Gov. Greg Abbott signaled he would approve a nuclear fund as large as $5 billion last year after a regulatory task force recommended creating similar incentive programs.