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Tex. Gov't Code § 2256.0205

AUTHORIZED INVESTMENTS; DECOMMISSIONING TRUST

Known as the Public Funds Investment Act

The act spans §§ 2256.001 to 2256.055 (39 sections).

Added by Acts 2005, 79th Leg., Ch. 121 (S.B. 1464), Sec. 1, eff

(a) In this section:

(1) "Decommissioning trust" means a trust created to provide the Nuclear Regulatory Commission assurance that funds will be available for decommissioning purposes as required under 10 C.F.R. Part 50 or other similar regulation.

(2) "Funds" includes any money held in a decommissioning trust regardless of whether the money is considered to be public funds under this subchapter.

(b) In addition to other investments authorized under this subchapter, a municipality that owns a municipal electric utility that is engaged in the distribution and sale of electric energy or natural gas to the public may invest funds held in a decommissioning trust in any investment authorized by Subtitle B, Title 9, Property Code.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.