Texas 2017 - 85th Regular

Texas House Bill HB4230 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	85R4884 JXC-D
2	2	By: Wu H.B. No. 4230
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to the authority of the Texas Water Development Board to
8	8	provide financial assistance to political subdivisions for flood
9	9	control or mitigation projects.
10	10	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
11	11	SECTION 1. Section 15.601(a), Water Code, is amended to
12	12	read as follows:
13	13	(a) The state water pollution control revolving fund shall
14	14	be administered by the board under this subchapter and rules
15	15	adopted by the board. The fund shall be used to provide financial
16	16	assistance to political subdivisions for construction of treatment
17	17	works and flood control or mitigation projects and to persons for
18	18	nonpoint source pollution control and abatement projects under
19	19	Section 15.603(h), in accordance with the capitalization grant
20	20	program established under the Federal Water Pollution Control Act
21	21	(33 U.S.C. Section 1251 et seq.).
22	22	SECTION 2. Section 15.603(a), Water Code, is amended to
23	23	read as follows:
24	24	(a) The revolving fund is held separately from other funds
25	25	by the board outside the State Treasury to provide financial
26	26	assistance to:
27	27	(1) political subdivisions for construction of
28	28	treatment works;
29	29	(2) political subdivisions for flood control or
30	30	mitigation projects;
31	31	(3) [and to] persons for estuary management projects;
32	32	and
33	33	(4) persons for nonpoint source pollution control and
34	34	abatement projects under Subsection (h).
35	35	SECTION 3. Section 15.604(a), Water Code, is amended to
36	36	read as follows:
37	37	(a) The board may use the revolving fund for financial
38	38	assistance only as provided by the federal act:
39	39	(1) to make loans, on the conditions that:
40	40	(A) those loans are made at or below market
41	41	interest rates, including interest-free loans, at terms not to
42	42	exceed 20 years;
43	43	(B) principal and interest payments will begin
44	44	not later than one year after completion of any treatment works and
45	45	all loans will be fully amortized not later than 20 years after
46	46	completion of the treatment works;
47	47	(C) the recipient of a loan will establish a
48	48	dedicated source of revenue for repayment of loans; and
49	49	(D) the revolving fund will be credited with all
50	50	payments of principal of and interest on all loans;
51	51	(2) to buy or refinance the debt obligation of
52	52	political subdivisions at or below market rates if the debt
53	53	obligations were incurred after March 7, 1985;
54	54	(3) to guarantee or purchase insurance for political
55	55	subdivisions if the guarantee or insurance would improve access to
56	56	market credit or reduce interest rates;
57	57	(4) as a source of revenue or security for the payment
58	58	of principal and interest on bonds issued by the state if the
59	59	proceeds of the sale of those bonds will be deposited in the
60	60	revolving fund;
61	61	(5) to provide loan guarantees to similar revolving
62	62	funds established by municipalities or intermunicipal agencies;
63	63	(6) to earn interest on revolving fund accounts;
64	64	(7) for the reasonable costs of administering the
65	65	revolving fund and conducting activities provided for by Title VI
66	66	of the federal act, except that those amounts may not exceed the
67	67	amount authorized under Title VI of the federal act;
68	68	(8) to provide financial assistance to persons for a
69	69	nonpoint source pollution control project under Section 319 of the
70	70	federal act or for an estuary management project under Section 320
71	71	of the federal act;
72	72	(9) for other purposes as provided by the federal act;
73	73	[and]
74	74	(10) to provide financial assistance to political
75	75	subdivisions for flood control or mitigation projects; and
76	76	(11) to provide linked deposits to eligible lending
77	77	institutions for loans to persons for nonpoint source pollution
78	78	control projects.
79	79	SECTION 4. Subchapter J, Chapter 15, Water Code, is amended
80	80	by adding Section 15.6065 to read as follows:
81	81	Sec. 15.6065. EXPEDITED PROCEDURE FOR ACTING ON APPLICATION
82	82	FOR FINANCIAL ASSISTANCE FOR FLOOD CONTROL OR MITIGATION PROJECT.
83	83	The board shall adopt rules providing an expedited procedure for
84	84	acting on an application by a political subdivision for financial
85	85	assistance from the revolving fund for a flood control or
86	86	mitigation project.
87	87	SECTION 5. This Act takes effect September 1, 2017.