Texas Senate Bill SB2057

Texas 2017 - 85th Regular

Caption

Relating to the creation, administration, and funding of a state infrastructure endowment fund outside of the state treasury.

Impact

The establishment of the State Infrastructure Endowment Fund could have significant implications for state financial management practices. It is designed to ensure that a percentage of the state's general revenue is earmarked for infrastructure projects over a specified period, with provisions for these funds to be accessed without legislative approval for specific expenses. This could streamline the funding process and enable quicker responses to urgent infrastructure needs, reducing bureaucratic delays in funding approvals and project initiation.

Summary

SB2057 proposes the creation of a State Infrastructure Endowment Fund that would be managed outside of the state treasury, overseen by the comptroller of public accounts. The fund aims to provide financial support for state infrastructure projects, specifically those that involve repair, renovation, rehabilitation, or construction, but it explicitly excludes transportation infrastructure. By establishing this fund, the bill seeks to create a sustainable financing mechanism that allows for proactive management of state infrastructure needs without the immediate pressure of legislative appropriations for each project.

Contention

While proponents of SB2057 argue that the fund will enhance the state's ability to address infrastructure deficits effectively, there are concerns regarding oversight and accountability. Critics may express apprehension about the fund being managed outside the traditional treasury system, suggesting that this could potentially lead to a lack of transparency in how funds are allocated and spent. Furthermore, the exclusion of transportation projects may lead to debates over which areas of infrastructure should be prioritized, particularly given the pressing needs in transportation networks across the state.