AUSTIN, Texas (Big 2/Fox 24) – The GROW Texas fund, filed by Reps. Brooks Landgraf and Tom Craddick has passed in the Texas House of Representatives.
House Joint Resolution, or the GROW Texas Fund, as it is known, passed through the House on Thursday by a 121-13 vote.
“The regions of Texas responsible for the state’s oil and gas production have experienced significant challenges that limit the growth of the energy sector and could pose a significant threat to the long-term success of the industry and the state,” Landgraf said. “It is in the best interest of Texas to protect this vital source of revenue for the state and ‘Grow Texas’ is a big step forward to address those challenges.”
The GROW Texas fund aims to earmark oil and gas revenue and send it back to the areas in which it was generated for road improvements, public safety enhancements and education.
Last month, the resolution gained traction with various organizations who stood behind it.
Greater Houston Partnership, Texas Alliance of Energy Producers, Texas Association of Business, Texas Oil and Gas Association have all thrown their support in for the bill.
The resolution is currently moving through the legislature and would require a supermajority in both the House and the Senate as well as a constitutional amendment.
Additionally, the amendment would need to be adopted by voters before it could become law.