Texas Senate Bill SJR61

Texas 2017 - 85th Regular

Caption

Proposing a constitutional amendment providing for the issuance of additional general obligation bonds by the Texas Water Development Board to provide financial assistance for the development of certain projects in economically distressed areas.

Impact

The impact of SJR61 is significant in addressing the infrastructure needs of economically distressed areas. By enabling the Texas Water Development Board to borrow additional funds, the bill aims to ensure that essential services are accessible even to communities facing economic challenges. This could potentially lead to improved public health outcomes, enhanced quality of life, and the promotion of economic activities in these regions. The amendments could result in a notable increase in the state's capacity to fund necessary infrastructure projects that may have previously been underfunded.

Summary

SJR61 proposes a constitutional amendment that allows the Texas Water Development Board to issue additional general obligation bonds. These bonds can be used to provide financial assistance for projects aimed at developing essential services, such as water supply, sewer service, and drainage systems, specifically targeting economically distressed areas in Texas. The total amount that can be issued under this amendment is not to exceed $200 million, providing a robust financial tool for infrastructure enhancements in regions that need it the most.

Contention

While SJR61 has significant support due to its potential benefits, it may generate some contention among different stakeholders. Concerns could arise regarding the management of the funds and how effectively the projects are executed. Moreover, discussions may center around the source of funding for these bonds and the financial implications for the state's debt levels. Stakeholders might also debate the criteria used to define economically distressed areas, emphasizing the need for transparency and accountability in the allocation of financial resources.