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  89R13928 CS-D     By: Hunter H.B. No. 4632       A BILL TO BE ENTITLED   AN ACT   relating to disbursement of initial funds under the Texas Energy   Fund.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 34.0104(l), Utilities Code, is amended   to read as follows:          (l)  The commission may [ not ] disburse the initial funds for   a loan under this section after December 31, 2025 , if the commission   determines that market factors necessitate an extension of the   deadline for disbursement of initial funds. An applicant may   request disbursement of initial funds after December 31, 2025. The   commission shall approve or deny the request on a case-by-case   basis .          SECTION 2.  This Act takes effect September 1, 2025.