Texas 2017 - 85th Regular

Texas House Bill HB2943 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	By: Larson, et al. (Senate Sponsor - Perry) H.B. No. 2943
2		-	(In the Senate - Received from the House May 1, 2017;
3		-	May 10, 2017, read first time and referred to Committee on
4		-	Agriculture, Water & Rural Affairs; May 16, 2017, reported
5		-	favorably by the following vote: Yeas 7, Nays 0; May 16, 2017,
6		-	sent to printer.)
7		-	Click here to see the committee vote
	1	+	H.B. No. 2943
8	2
9	3
10		-	A BILL TO BE ENTITLED
11	4		AN ACT
12	5		relating to the use of money in the state water pollution control
13	6		revolving fund.
14	7		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
15	8		SECTION 1. Section 15.601(a), Water Code, is amended to
16	9		read as follows:
17	10		(a) The state water pollution control revolving fund shall
18	11		be administered by the board under this subchapter and rules
19	12		adopted by the board. The fund shall be used to provide financial
20	13		assistance to persons for projects eligible for assistance under
21	14		Section 603(c) of the Federal Water Pollution Control Act (33
22	15		U.S.C. Section 1383(c)), including [political subdivisions for
23	16		construction of treatment works and to persons for] nonpoint source
24	17		pollution control and abatement and water quality control projects
25	18		described by Sections [under Section] 15.603(h) and (h-1) of this
26	19		code, in accordance with the capitalization grant program
27	20		established under the Federal Water Pollution Control Act (33
28	21		U.S.C. Section 1251 et seq.).
29	22		SECTION 2. Section 15.603, Water Code, is amended by
30	23		amending Subsection (a) and adding Subsection (h-1) to read as
31	24		follows:
32	25		(a) The revolving fund is held separately from other funds
33	26		by the board outside the State Treasury to provide financial
34	27		assistance to persons for projects eligible for assistance under
35	28		Section 603(c) of the federal act (33 U.S.C. Section 1383(c)),
36	29		including [political subdivisions for construction of treatment
37	30		works and to persons for estuary management projects and for]
38	31		nonpoint source pollution control and abatement and water quality
39	32		control projects under Subsections [Subsection] (h) and (h-1) of
40	33		this section.
41	34		(h-1) In conjunction with or separate from the account
42	35		described by Subsection (h), the board by rule shall establish a
43	36		program to promote the acquisition by eligible applicants of
44	37		conservation easements, as defined by Section 183.001, Natural
45	38		Resources Code. Acquisitions made through the program must have a
46	39		demonstrable impact on water quality control, as determined by the
47	40		board. The board shall ensure that the amounts of any funds used
48	41		for such a program are consistent with maintaining the perpetuity
49	42		of the revolving fund.
50	43		SECTION 3. Section 15.604, Water Code, is amended by
51	44		amending Subsection (a) and adding Subsection (c) to read as
52	45		follows:
53	46		(a) The board may use the revolving fund for financial
54	47		assistance only as provided by the federal act:
55	48		(1) to make loans, on the conditions that:
56	49		(A) the loan is [those loans are] made at or below
57	50		market interest rates, including an interest-free loan [loans], at
58	51		a term [terms] not to exceed the lesser of 30 years or the projected
59	52		useful life, as determined by the board, of the project to be
60	53		financed with the proceeds of the loan [20 years];
61	54		(B) principal and interest payments will begin
62	55		not later than one year after completion of the project to be
63	56		financed with the proceeds of the loan [any treatment works] and the
64	57		loan [all loans] will be fully amortized not later than the
65	58		expiration date of the term of the loan [20 years after completion
66	59		of the treatment works];
67	60		(C) the recipient of a loan will establish a
68	61		dedicated source of revenue for repayment of loans; and
69	62		(D) the revolving fund will be credited with all
70	63		payments of principal of and interest on all loans;
71	64		(2) to buy or refinance the debt obligation of
72	65		political subdivisions at or below market rates if the debt
73	66		obligations were incurred after March 7, 1985;
74	67		(3) to guarantee or purchase insurance for political
75	68		subdivisions if the guarantee or insurance would improve access to
76	69		market credit or reduce interest rates;
77	70		(4) as a source of revenue or security for the payment
78	71		of principal and interest on bonds issued by the state if the
79	72		proceeds of the sale of those bonds will be deposited in the
80	73		revolving fund;
81	74		(5) to provide loan guarantees to similar revolving
82	75		funds established by municipalities or intermunicipal agencies;
83	76		(6) to earn interest on revolving fund accounts;
84	77		(7) for the reasonable costs of administering the
85	78		revolving fund and conducting activities provided for by Title VI
86	79		of the federal act, except that those amounts may not exceed the
87	80		amount authorized under Title VI of the federal act;
88	81		(8) to provide financial assistance to persons for a
89	82		nonpoint source pollution control or water quality control project
90	83		under Section 319 of the federal act or Section 15.603(h) or (h-1)
91	84		of this code [for an estuary management project under Section 320 of
92	85		the federal act];
93	86		(9) for other purposes as provided by the federal act;
94	87		and
95	88		(10) to provide linked deposits to eligible lending
96	89		institutions for loans to persons for nonpoint source pollution
97	90		control projects.
98	91		(c) A project financed through the revolving fund, other
99	92		than a project authorized under Section 603(c)(1), (5), or (11) of
100	93		the federal act (33 U.S.C. Section 1383(c)(1), (5), or (11)), must
101	94		have a demonstrable impact on water quality control, as determined
102	95		by the board. The board shall ensure that the amounts of any funds
103	96		used for such a project are consistent with maintaining the
104	97		perpetuity of the revolving fund.
105	98		SECTION 4. Section 17.0821(c), Water Code, is amended to
106	99		read as follows:
107	100		(c) The board shall use the state water pollution control
108	101		revolving fund in accordance with Section 15.604(a)(4) [15.604(4)]
109	102		of this code and the Federal Water Pollution Control Act, Section
110	103		603(d)(4), as a source of revenue to be deposited in accordance with
111	104		this chapter for the payment of principal and interest on water
112	105		quality enhancement bonds issued by the state, the proceeds of
113	106		which are deposited into the state water pollution control
114	107		revolving fund.
115	108		SECTION 5. The Texas Water Development Board shall adopt
116	109		rules under Section 15.603(h-1), Water Code, as added by this Act,
117	110		not later than January 1, 2018.
118	111		SECTION 6. This Act takes effect immediately if it receives
119	112		a vote of two-thirds of all the members elected to each house, as
120	113		provided by Section 39, Article III, Texas Constitution. If this
121	114		Act does not receive the vote necessary for immediate effect, this
122	115		Act takes effect September 1, 2017.
123		-	* * * * *
	116	+	______________________________ ______________________________
	117	+	President of the Senate Speaker of the House
	118	+	I certify that H.B. No. 2943 was passed by the House on April
	119	+	28, 2017, by the following vote: Yeas 132, Nays 0, 2 present, not
	120	+	voting.
	121	+	______________________________
	122	+	Chief Clerk of the House
	123	+	I certify that H.B. No. 2943 was passed by the Senate on May
	124	+	19, 2017, by the following vote: Yeas 31, Nays 0.
	125	+	______________________________
	126	+	Secretary of the Senate
	127	+	APPROVED: _____________________
	128	+	Date
	129	+	_____________________
	130	+	Governor