| 1 | 1 | | 88R14573 KBB-D |
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| 2 | 2 | | By: González of El Paso, Guillen, Murr, H.B. No. 3522 |
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| 3 | 3 | | Lopez of Cameron, Gamez |
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| 4 | 4 | | |
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| 5 | 5 | | |
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| 6 | 6 | | A BILL TO BE ENTITLED |
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| 7 | 7 | | AN ACT |
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| 8 | 8 | | relating to the authority of the Texas Water Development Board to |
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| 9 | 9 | | provide financial assistance from the economically distressed |
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| 10 | 10 | | areas account that is not required to be repaid. |
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| 11 | 11 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 12 | 12 | | SECTION 1. Section 17.933(c), Water Code, is amended to |
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| 13 | 13 | | read as follows: |
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| 14 | 14 | | (c) The total amount of financial assistance provided by the |
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| 15 | 15 | | board to political subdivisions under this subchapter from |
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| 16 | 16 | | state-issued bonds for which repayment is not required may not |
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| 17 | 17 | | exceed at any time 90 [70] percent of the total principal amount of |
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| 18 | 18 | | issued and unissued bonds authorized under Article III of the Texas |
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| 19 | 19 | | Constitution, for purposes of this subchapter plus outstanding |
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| 20 | 20 | | interest on those bonds. |
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| 21 | 21 | | SECTION 2. This Act takes effect September 1, 2023. |
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