Texans as early as Monday were going to be able to begin voting on a slate of amendments, including one that would fund natural gas-fired generation facilities to bolster the stressed electric grid. 

Proposition 7, a constitutional amendment, would if adopted by a majority of voters establish the Texas Energy Fund (TEF) to support the construction, maintenance, modernization and operation of electric generation facilities. The amendment does not explicitly limit eligible projects to natural gas-fired generation, but only dispatchable projects of at least 100 MW would qualify for a loan.

The loans offered by the TEF could be as high as $7.2 billion for a single facility with an interest rate of 3%, according to state Senate Bill (SB) 2627, which determined how state funds would...