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Texas Statutes (Last Updated: January 4, 2014) |
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NATURAL RESOURCES CODE |
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Title 3. OIL AND GAS |
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Subtitle D. REGULATION OF SPECIFIC BUSINESSES AND OCCUPATIONS |
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Chapter 113. LIQUEFIED PETROLEUM GAS |
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Subchapter J. ALTERNATIVE FUELS COUNCIL |
Sec. 113.286. ALTERNATIVE FUELS CONVERSION FUND
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(a) The alternative fuels conversion fund is in the state treasury.
(b) To the extent permitted by federal law or regulations, the council may use the money in the fund only to:
(1) make loans or grants under this subchapter;
(2) finance activities supporting or encouraging the use of compressed natural gas, liquefied natural gas, liquefied petroleum gas, methanol or methanol/gasoline blends of 85 percent or greater, ethanol or ethanol/gasoline blends of 85 percent or greater, or electricity; or
(3) pay the costs of administering this subchapter.
(c) The council may apply for, request, solicit, contract for, receive, and accept gifts, grants, and other assistance from any source for the purposes of this subchapter.
(d) The council shall maintain a separate account in the fund for money received that is designated for the promotion of a specific fuel or that is collected from a discrete component of the alternative fuels industry. The council may use money in a separate account in the fund only to finance an activity that relates to the fuel for which the money is received.
(e) The fund consists of:
(1) oil overcharge funds appropriated by the legislature;
(2) gifts, grants, and other assistance to the council or fund for the purpose of financing alternative fuels activities;
(3) other money designated by the legislature or the executive branch;
(4) payments of principal and interest on loans made under this subchapter; and
(5) interest earned on amounts in the fund.