Proposing a constitutional amendment providing for the issuance of additional general obligation bonds by the Texas Water Development Board.
Impact
The implementation of HJR128 would significantly impact state laws concerning public finance and water resource management. By amending Article III of the Texas Constitution, this bill would provide the Texas Water Development Board with the authority to issue more bonds than currently permitted, potentially leading to increased financial support for various water-related projects. This could directly affect the state’s ability to respond to water needs and infrastructural improvements, ensuring better management and availability of water resources.
Summary
HJR128 is a joint resolution proposing a constitutional amendment that would allow the Texas Water Development Board to issue additional general obligation bonds. The proposed amendment enables the board to issue bonds on a continuing basis for the Texas Water Development Fund II, with the aggregate principal amount not to exceed $6 billion at any time. This resolution aims to enhance the funding capabilities of the board to address critical water infrastructure projects throughout Texas.
Contention
While the bill primarily aims at bolstering financial resources for water development, it may face some opposition regarding the amount of debt that will be incurred by the state through bond issuance. Stakeholders may express concerns about fiscal responsibility and the long-term implications of such a substantial increase in bond limits. The discussions surrounding HJR128 may also touch upon equitable distribution of the bond-funded projects, ensuring that the needs of diverse communities across Texas are adequately addressed.
Proposing a constitutional amendment increasing the amount of additional general obligation bonds that may be issued by the Texas Water Development Board to provide financial assistance for the development of certain projects in economically distressed areas.
Proposing a constitutional amendment increasing the amount of additional general obligation bonds that may be issued by the Texas Water Development Board to provide financial assistance for the development of certain projects in economically distressed areas.
Proposing a constitutional amendment authorizing the issuance of general obligation bonds to provide funding for the construction, expansion, maintenance, and operation of state mental health facilities.
Proposing a constitutional amendment providing for the dedication of certain sales and use tax revenue to a special fund established in the state treasury to pay for water infrastructure in this state.
Proposing a constitutional amendment providing for the creation of the Texas legacy fund and the Texas legacy distribution fund, dedicating the Texas legacy distribution fund to certain state infrastructure projects or the reduction of certain long-term obligations, and providing for the transfer of certain general revenues to the economic stabilization fund, the Texas legacy fund, and the state highway fund.