88R26838 JAM-D
By: Perry, et al. S.J.R. No. 75
(King of Uvalde)
Substitute the following for S.J.R. No. 75: No.
A JOINT RESOLUTION
proposing a constitutional amendment creating the Texas water fund
to assist in financing water projects in this state.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Article III, Texas Constitution, is amended by
adding Section 49-d-16 to read as follows:
Sec. 49-d-16. (a) The Texas water fund is created as a
special fund in the state treasury outside the general revenue
fund. The fund is administered by the Texas Water Development Board
or by that board's successor in function as provided by general law.
(b) The administrator of the Texas water fund may use the
fund only to transfer money to other funds or accounts administered
by the Texas Water Development Board or that board's successor in
function. The administrator may restore to the fund money
transferred from the fund and deposited to the credit of another
fund or account. Legislative appropriation is not required for the
administrator to transfer money from or restore money to the fund.
(c) The Texas water fund consists of:
(1) money transferred or deposited to the credit of
the fund by general law, including money appropriated by the
legislature directly to the fund and money from any source
transferred or deposited to the credit of the fund authorized by
general law;
(2) any other revenue that the legislature by statute
dedicates for deposit to the credit of the fund;
(3) investment earnings and interest earned on amounts
credited to the fund;
(4) money from gifts, grants, or donations to the
fund; and
(5) money returned from any authorized transfer.
(d) The legislature by general law shall provide for the
manner in which money from the Texas water fund may be used, subject
to the limitations provided by this section.
(e) The legislature by general law may provide for costs of
investment of the Texas water fund to be paid from that fund.
(f) For purposes of Section 22, Article VIII, of this
constitution:
(1) money in the Texas water fund is dedicated by this
constitution; and
(2) an appropriation of state tax revenues for the
purpose of depositing money to the credit of the Texas water fund is
treated as if it were an appropriation of revenues dedicated by this
constitution.
(g) On January 1, 2024, the comptroller of public accounts
shall transfer $3 billion of the unencumbered balance of the
general revenue fund that exists on that date to the Texas water
fund. This subsection expires December 31, 2024.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 7, 2023.
The ballot shall be printed to permit voting for or against the
proposition: "The constitutional amendment creating the Texas
water fund to assist in financing water projects in this state."