82R11617 ACP-D
By: Ritter H.B. No. 3273
A BILL TO BE ENTITLED
AN ACT
relating to the creation and funding of the state water
implementation fund for Texas to assist the Texas Water Development
Board in the funding of certain projects included in the state water
plan.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. The legislature recognizes the importance of
providing for this state's future water supply needs. The purpose
of this Act is to ensure that funding is available to provide an
adequate water supply for the future of this state.
SECTION 2. Chapter 15, Water Code, is amended by adding
Subchapter G to read as follows:
SUBCHAPTER G. STATE WATER IMPLEMENTATION FUND FOR TEXAS
Sec. 15.431. DEFINITION. In this subchapter, "fund" means
the state water implementation fund for Texas.
Sec. 15.432. STATE WATER IMPLEMENTATION FUND FOR TEXAS.
(a) The state water implementation fund for Texas is a special fund
in the state treasury to be administered by the board under this
subchapter and rules adopted by the board under this subchapter.
(b) The fund consists of:
(1) the proceeds of any fee or tax imposed by this
state provided for by a general law enacted under Section 49-d-12,
Article III, Texas Constitution;
(2) any other fees or sources of revenue that the
legislature may dedicate for deposit to the credit of the fund;
(3) appropriations from the legislature;
(4) interest earned on money credited to the fund; and
(5) money from gifts, grants, or donations to the
fund.
Sec. 15.433. USE OF FUND. (a) The board may use money in
the fund only to pay the principal of and interest on, or to make
payments under a bond enhancement agreement entered into by the
board with respect to the principal of or interest on, bonds issued
by the board for projects included in the state water plan that are
authorized under:
(1) Subchapter Q;
(2) Subchapter E, Chapter 16; or
(3) Subchapter K, Chapter 17.
(b) Not less than 20 percent of the money available in the
fund must be used to finance conservation and reuse projects
included in the state water plan.
Sec. 15.434. TRANSFERS TO OTHER ACCOUNTS. The board may
direct the comptroller to transfer amounts from the fund to the
credit of:
(1) the water infrastructure fund to be used for the
purposes provided by Section 15.433 related to projects included in
the state water plan that are authorized under Subchapter Q;
(2) the Texas Water Development Fund II state
participation account to be used for the purposes provided by
Section 15.433 related to projects included in the state water plan
that are authorized under Subchapter E, Chapter 16; or
(3) the Texas Water Development Fund II economically
distressed areas program account to be used for the purposes
provided by Section 15.433 related to projects included in the
state water plan that are authorized under Subchapter K, Chapter
17.
Sec. 15.435. RULES. The board shall adopt rules providing
for the use of money in the fund consistent with this subchapter,
including rules defining "conservation and reuse projects" for
purposes of Section 15.433(b).
SECTION 3. Section 15.973(b), Water Code, is amended to
read as follows:
(b) The fund consists of:
(1) appropriations from the legislature;
(2) any other fees or sources of revenue that the
legislature may dedicate for deposit to the fund;
(3) repayments of loans made from the fund;
(4) interest earned on money credited to the fund;
(5) depository interest allocable to the fund;
(6) money from gifts, grants, or donations to the
fund;
(7) money from revenue bonds or other sources
designated by the board; [and]
(8) proceeds from the sale of political subdivision
bonds or obligations held in the fund and not otherwise pledged to
the discharge, repayment, or redemption of revenue bonds or other
bonds, the proceeds of which were placed in the fund; and
(9) money transferred from the state water
implementation fund for Texas as authorized by Section 15.434.
SECTION 4. Section 17.957(b), Water Code, is amended to
read as follows:
(b) The state participation account is composed of:
(1) money and assets attributable to water financial
assistance bonds designated by the board as issued for projects
described in Section 16.131;
(2) money from the sale, transfer, or lease of a
project described in Subdivision (1) that was acquired,
constructed, reconstructed, developed, or enlarged with money from
the state participation account;
(3) payments received under a bond enhancement
agreement with respect to water financial assistance bonds
designated by the board as issued for projects described in Section
16.131;
(4) investment income earned on money on deposit in
the state participation account;
(4-a) money transferred from the state water
implementation fund for Texas as authorized by Section 15.434; and
(5) any other funds, regardless of their source, that
the board directs be deposited to the credit of the state
participation account.
SECTION 5. Section 17.958(b), Water Code, is amended to
read as follows:
(b) The economically distressed areas program account is
composed of:
(1) money and assets attributable to water financial
assistance bonds designated by the board as issued for projects
described in Subchapter K;
(2) money provided by the federal government, the
state, political subdivisions, and private entities for the purpose
of paying debt service on water financial assistance bonds issued
for purposes provided by Subchapter K;
(3) payments received under a bond enhancement
agreement with respect to water financial assistance bonds
designated by the board as issued for purposes provided by
Subchapter K;
(4) investment income earned on money on deposit in
the economically distressed areas program account;
(4-a) money transferred from the state water
implementation fund for Texas as authorized by Section 15.434; and
(5) any other funds, regardless of their source, that
the board directs be deposited to the credit of the economically
distressed areas program account.
SECTION 6. Not later than April 1, 2012, the Texas Water
Development Board shall adopt rules providing for the use of money
in the state water implementation fund for Texas under Subchapter
G, Chapter 15, Water Code, as added by this Act.
SECTION 7. This Act takes effect January 1, 2012, but only
if the constitutional amendment proposed by the 82nd Legislature,
Regular Session, 2011, providing for the creation and funding of
the state water implementation fund for Texas to assist the Texas
Water Development Board in the funding of certain projects included
in the state water plan is approved by the voters. If that
amendment is not approved by the voters, this Act has no effect.