Texas 2017 - 85th 1st C.S.

Texas House Bill HB230 Compare Versions

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

Old	New	Differences
1	1	85S10521 JXC-F
2	2	By: Larson H.B. No. 230
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to the use of money in the state water pollution control
8	8	revolving fund.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. Section 15.601(a), Water Code, is amended to
11	11	read as follows:
12	12	(a) The state water pollution control revolving fund shall
13	13	be administered by the board under this subchapter and rules
14	14	adopted by the board. The fund shall be used to provide financial
15	15	assistance to persons for projects eligible for assistance under
16	16	Section 603(c) of the Federal Water Pollution Control Act (33
17	17	U.S.C. Section 1383(c)), including [political subdivisions for
18	18	construction of treatment works and to persons for] nonpoint source
19	19	pollution control and abatement and water quality control projects
20	20	described by Sections [under Section] 15.603(h) and (h-1) of this
21	21	code, in accordance with the capitalization grant program
22	22	established under the Federal Water Pollution Control Act (33
23	23	U.S.C. Section 1251 et seq.).
24	24	SECTION 2. Section 15.603, Water Code, is amended by
25	25	amending Subsection (a) and adding Subsection (h-1) to read as
26	26	follows:
27	27	(a) The revolving fund is held separately from other funds
28	28	by the board outside the State Treasury to provide financial
29	29	assistance to persons for projects eligible for assistance under
30	30	Section 603(c) of the federal act (33 U.S.C. Section 1383(c)),
31	31	including [political subdivisions for construction of treatment
32	32	works and to persons for estuary management projects and for]
33	33	nonpoint source pollution control and abatement and water quality
34	34	control projects under Subsections [Subsection] (h) and (h-1) of
35	35	this section.
36	36	(h-1) In conjunction with or separate from the account
37	37	described by Subsection (h), the board by rule shall establish a
38	38	program to promote the acquisition by eligible applicants of
39	39	conservation easements, as defined by Section 183.001, Natural
40	40	Resources Code. Acquisitions made through the program must have a
41	41	demonstrable impact on water quality control, as determined by the
42	42	board. The board shall ensure that the amounts of any funds used
43	43	for such a program are consistent with maintaining the perpetuity
44	44	of the revolving fund.
45	45	SECTION 3. Section 15.604, Water Code, is amended by
46	46	amending Subsection (a) and adding Subsection (c) to read as
47	47	follows:
48	48	(a) The board may use the revolving fund for financial
49	49	assistance only as provided by the federal act:
50	50	(1) to make loans, on the conditions that:
51	51	(A) the loan is [those loans are] made at or below
52	52	market interest rates, including an interest-free loan [loans], at
53	53	a term [terms] not to exceed the lesser of 30 years or the projected
54	54	useful life, as determined by the board, of the project to be
55	55	financed with the proceeds of the loan [20 years];
56	56	(B) principal and interest payments will begin
57	57	not later than one year after completion of the project to be
58	58	financed with the proceeds of the loan [any treatment works] and the
59	59	loan [all loans] will be fully amortized not later than the
60	60	expiration date of the term of the loan [20 years after completion
61	61	of the treatment works];
62	62	(C) the recipient of a loan will establish a
63	63	dedicated source of revenue for repayment of loans; and
64	64	(D) the revolving fund will be credited with all
65	65	payments of principal of and interest on all loans;
66	66	(2) to buy or refinance the debt obligation of
67	67	political subdivisions at or below market rates if the debt
68	68	obligations were incurred after March 7, 1985;
69	69	(3) to guarantee or purchase insurance for political
70	70	subdivisions if the guarantee or insurance would improve access to
71	71	market credit or reduce interest rates;
72	72	(4) as a source of revenue or security for the payment
73	73	of principal and interest on bonds issued by the state if the
74	74	proceeds of the sale of those bonds will be deposited in the
75	75	revolving fund;
76	76	(5) to provide loan guarantees to similar revolving
77	77	funds established by municipalities or intermunicipal agencies;
78	78	(6) to earn interest on revolving fund accounts;
79	79	(7) for the reasonable costs of administering the
80	80	revolving fund and conducting activities provided for by Title VI
81	81	of the federal act, except that those amounts may not exceed the
82	82	amount authorized under Title VI of the federal act;
83	83	(8) to provide financial assistance to persons for a
84	84	nonpoint source pollution control or water quality control project
85	85	under Section 319 of the federal act or Section 15.603(h) or (h-1)
86	86	of this code [for an estuary management project under Section 320 of
87	87	the federal act];
88	88	(9) for other purposes as provided by the federal act;
89	89	and
90	90	(10) to provide linked deposits to eligible lending
91	91	institutions for loans to persons for nonpoint source pollution
92	92	control projects.
93	93	(c) A project financed through the revolving fund, other
94	94	than a project authorized under Section 603(c)(1), (5), or (11) of
95	95	the federal act (33 U.S.C. Section 1383(c)(1), (5), or (11)), must
96	96	have a demonstrable impact on water quality control, as determined
97	97	by the board. The board shall ensure that the amounts of any funds
98	98	used for such a project are consistent with maintaining the
99	99	perpetuity of the revolving fund.
100	100	SECTION 4. Section 17.0821(c), Water Code, is amended to
101	101	read as follows:
102	102	(c) The board shall use the state water pollution control
103	103	revolving fund in accordance with Section 15.604(a)(4) [15.604(4)]
104	104	of this code and the Federal Water Pollution Control Act, Section
105	105	603(d)(4), as a source of revenue to be deposited in accordance with
106	106	this chapter for the payment of principal and interest on water
107	107	quality enhancement bonds issued by the state, the proceeds of
108	108	which are deposited into the state water pollution control
109	109	revolving fund.
110	110	SECTION 5. The Texas Water Development Board shall adopt
111	111	rules under Section 15.603(h-1), Water Code, as added by this Act,
112	112	not later than April 1, 2018.
113	113	SECTION 6. This Act takes effect immediately if it receives
114	114	a vote of two-thirds of all the members elected to each house, as
115	115	provided by Section 39, Article III, Texas Constitution. If this
116	116	Act does not receive the vote necessary for immediate effect, this
117	117	Act takes effect December 1, 2017.