83R2928 JJT-D
By: Creighton H.B. No. 1317
A BILL TO BE ENTITLED
AN ACT
relating to directing certain surplus revenue to water
infrastructure funding.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. (a) This section takes effect only if the state
water implementation fund for Texas is created by legislation
enacted by the 83rd Legislature, Regular Session, 2013.
(b) Subchapter G, Chapter 403, Government Code, is amended
by adding Section 403.110 to read as follows:
Sec. 403.110. REDIRECTION OF SURPLUS ECONOMIC
STABILIZATION FUND REVENUE. (a) If the comptroller reduces an
amount to be transferred to the economic stabilization fund as
provided by Section 49-g(b), Article III, Texas Constitution, the
comptroller shall transfer to the credit of the state water
implementation fund for Texas an amount of general revenue equal to
the amount by which the comptroller reduced the amount that
otherwise would be required to be transferred by that subsection.
(b) If the comptroller reduces an amount to be transferred
to the economic stabilization fund as provided by Section 49-g(c),
Article III, Texas Constitution, the comptroller shall transfer to
the credit of the state water implementation fund for Texas:
(1) an amount of general revenue equal to the amount by
which the comptroller reduced the amount that otherwise would be
required to be transferred by Subsections (c) and (d) of that
section; and
(2) an amount of general revenue equal to the amount by
which the comptroller reduced the amount that otherwise would be
required to be transferred by Subsections (c) and (e) of that
section.
(c) If the comptroller credits an amount to general revenue
under Section 49-g(i), Article III, Texas Constitution, the
comptroller shall transfer an equal amount of general revenue to
the credit of the state water implementation fund for Texas.
SECTION 2. (a) This section takes effect only if Section 1
of this Act does not take effect as provided by Section 1(a) of this
Act.
(b) Section 17.956, Water Code, is amended to read as
follows:
Sec. 17.956. TEXAS WATER DEVELOPMENT FUND II. (a) The fund
is a special fund in the state treasury, and all water financial
assistance bond proceeds shall be deposited in the state treasury
to the credit of the fund.
(b) The fund shall contain a "state participation account,"
an "economically distressed areas program account," and a
"financial assistance account," and proceeds from the sale of water
financial assistance bonds issued for the purpose of providing
financial assistance to political subdivisions shall be credited to
those [such] accounts as provided by resolution by the board.
(c) The fund contains the "surplus account" to receive money
transferred to the fund under Section 17.9595.
(d) By resolution, the board may create additional accounts
within the fund as the board determines are necessary or convenient
for the administration of the fund.
(c) Subchapter L, Chapter 17, Water Code, is amended by
adding Section 17.9595 to read as follows:
Sec. 17.9595. SURPLUS ACCOUNT; REDIRECTION OF SURPLUS
ECONOMIC STABILIZATION FUND REVENUE. (a) The Texas Water
Development Fund II surplus account, referred to as the "surplus
account," is an account established within the fund in the state
treasury.
(b) The surplus account is composed of:
(1) money transferred to the account as provided by
Subsections (d)-(f);
(2) other money transferred to the account by law; and
(3) investment income earned on money on deposit in
the account.
(c) At the direction of the board, the comptroller shall
transfer money from the surplus account to another account in the
fund for use by the board for purposes of the account receiving the
transfer.
(d) If the comptroller reduces an amount to be transferred
to the economic stabilization fund as provided by Section 49-g(b),
Article III, Texas Constitution, the comptroller shall transfer to
the credit of the surplus account an amount of general revenue equal
to the amount by which the comptroller reduced the amount that
otherwise would be required to be transferred by that subsection.
(e) If the comptroller reduces an amount to be transferred
to the economic stabilization fund as provided by Section 49-g(c),
Article III, Texas Constitution, the comptroller shall transfer to
the credit of the surplus account:
(1) an amount of general revenue equal to the amount by
which the comptroller reduced the amount that otherwise would be
required to be transferred by Subsections (c) and (d) of that
section; and
(2) an amount of general revenue equal to the amount by
which the comptroller reduced the amount that otherwise would be
required to be transferred by Subsections (c) and (e) of that
section.
(f) If the comptroller credits an amount to general revenue
under Section 49-g(i), Article III, Texas Constitution, the
comptroller shall transfer an equal amount of general revenue to
the credit of the surplus account.
SECTION 3. Except as otherwise provided by this Act, this
Act takes effect January 1, 2014.