81R20959 SMH-D
By: Hopson, McReynolds H.B. No. 3861
Substitute the following for H.B. No. 3861:
By: Miller of Comal C.S.H.B. No. 3861
A BILL TO BE ENTITLED
AN ACT
relating to the financing by the Texas Water Development Board of
the proposed Lake Columbia reservoir project.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. DEFINITIONS. In this Act:
(1) "Authority" means the Angelina and Neches River
Authority.
(2) "Board" means the Texas Water Development Board.
(3) "Project" means the proposed Lake Columbia
reservoir project authorized by Permit to Appropriate State Water
Number 4228 (Application No. 4537).
SECTION 2. LEGISLATIVE FINDINGS. The legislature finds
that:
(1) the project is a rural water project for political
subdivisions;
(2) the construction and development of the project
are in the public interest;
(3) the board has committed to the authority to
acquire, through the use of money in the Texas Water Development
Fund II state participation account, an interest in the project for
an amount not to exceed 50 percent of the total project costs in
order to support the optimum regional development of the project's
site; and
(4) the board has determined that it is reasonable to
expect that the state will recover its investment in the facility.
SECTION 3. BOARD DISCRETION IN MAKING FINDINGS. (a) In
making any statutory finding under Section 16.135(1), Water Code,
necessary to complete financing of the project, the board may take
into account any revenue reasonably expected to be received from:
(1) a political subdivision not currently under
contract with the authority to participate in paying the costs of
the site acquisition stage of the project; or
(2) a political subdivision not currently under
contract to purchase a portion of the water to be supplied by the
project.
(b) The board is not required to identify a political
subdivision from which revenue is reasonably expected to be
received as provided by Subsection (a) of this section at the time
the board makes a finding described by that subsection.
SECTION 4. EFFECTIVE DATE. This Act takes effect
immediately if it receives a vote of two-thirds of all the members
elected to each house, as provided by Section 39, Article III, Texas
Constitution. If this Act does not receive the vote necessary for
immediate effect, this Act takes effect September 1, 2009.