LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION May 27, 2023 TO: Honorable Dan Patrick, Lieutenant Governor, Senate Honorable Dade Phelan, Speaker of the House, House of Representatives FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SJR75 by Perry (proposing a constitutional amendment creating the Texas water fund to assist in financing water projects in this state.), Conference Committee Report No significant fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $204,406. The joint resolution proposes a constitutional amendment to Article III of the Texas Constitution that would create the Texas Water Fund (TWF). The fund would be held in the state treasury outside the General Revenue Fund and would be administered by the Texas Water Development Board (TWDB) to assist in financing water projects through the transfer of money to other accounts and funds administered by the TWDB. The legislature may appropriate money to be deposited to the TWF and be available for permitted transfers. No further legislative appropriation would be necessary to transfer or restore money transferred between the TWF and the following other TWDB accounts and funds: the Water Assistance Fund, the New Water Supply for Texas Fund, the Rural Water Assistance Fund, or the Statewide Water Public Awareness Account. At least twenty five percent of the money initially appropriated to the TWF would be required to be transferred to the New Water Supply for Texas Fund. The expenses of managing the TWF and its investments would be paid from the fund. Any unexpended and unobligated balances remaining in the TWF can be carried forward between biennia. The proposed amendment would be submitted to voters at an election to be held November 7, 2023.This legislation would do one or more of the following: create or recreate a dedicated account in the General Revenue Fund, create or recreate a special or trust fund either with or outside of the Treasury, or create a dedicated revenue source. The fund, account, or revenue dedication included in this bill would be subject to funds consolidation review by the current Legislature. Local Government ImpactNo fiscal implication to units of local government is anticipated. Source Agencies: b > td > 304 Comptroller of Public Accounts, 580 Water Development Board LBB Staff: b > td > JMc, SZ, MW, AJL, KDw, CMA
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION
May 27, 2023
TO: Honorable Dan Patrick, Lieutenant Governor, Senate Honorable Dade Phelan, Speaker of the House, House of Representatives FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SJR75 by Perry (proposing a constitutional amendment creating the Texas water fund to assist in financing water projects in this state.), Conference Committee Report
TO: Honorable Dan Patrick, Lieutenant Governor, Senate Honorable Dade Phelan, Speaker of the House, House of Representatives
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: SJR75 by Perry (proposing a constitutional amendment creating the Texas water fund to assist in financing water projects in this state.), Conference Committee Report
Honorable Dan Patrick, Lieutenant Governor, Senate Honorable Dade Phelan, Speaker of the House, House of Representatives
Honorable Dan Patrick, Lieutenant Governor, Senate Honorable Dade Phelan, Speaker of the House, House of Representatives
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
SJR75 by Perry (proposing a constitutional amendment creating the Texas water fund to assist in financing water projects in this state.), Conference Committee Report
SJR75 by Perry (proposing a constitutional amendment creating the Texas water fund to assist in financing water projects in this state.), Conference Committee Report
No significant fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $204,406.
No significant fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $204,406.
The joint resolution proposes a constitutional amendment to Article III of the Texas Constitution that would create the Texas Water Fund (TWF). The fund would be held in the state treasury outside the General Revenue Fund and would be administered by the Texas Water Development Board (TWDB) to assist in financing water projects through the transfer of money to other accounts and funds administered by the TWDB. The legislature may appropriate money to be deposited to the TWF and be available for permitted transfers. No further legislative appropriation would be necessary to transfer or restore money transferred between the TWF and the following other TWDB accounts and funds: the Water Assistance Fund, the New Water Supply for Texas Fund, the Rural Water Assistance Fund, or the Statewide Water Public Awareness Account. At least twenty five percent of the money initially appropriated to the TWF would be required to be transferred to the New Water Supply for Texas Fund. The expenses of managing the TWF and its investments would be paid from the fund. Any unexpended and unobligated balances remaining in the TWF can be carried forward between biennia. The proposed amendment would be submitted to voters at an election to be held November 7, 2023.This legislation would do one or more of the following: create or recreate a dedicated account in the General Revenue Fund, create or recreate a special or trust fund either with or outside of the Treasury, or create a dedicated revenue source. The fund, account, or revenue dedication included in this bill would be subject to funds consolidation review by the current Legislature.
The legislature may appropriate money to be deposited to the TWF and be available for permitted transfers. No further legislative appropriation would be necessary to transfer or restore money transferred between the TWF and the following other TWDB accounts and funds: the Water Assistance Fund, the New Water Supply for Texas Fund, the Rural Water Assistance Fund, or the Statewide Water Public Awareness Account. At least twenty five percent of the money initially appropriated to the TWF would be required to be transferred to the New Water Supply for Texas Fund. The expenses of managing the TWF and its investments would be paid from the fund. Any unexpended and unobligated balances remaining in the TWF can be carried forward between biennia. The proposed amendment would be submitted to voters at an election to be held November 7, 2023.This legislation would do one or more of the following: create or recreate a dedicated account in the General Revenue Fund, create or recreate a special or trust fund either with or outside of the Treasury, or create a dedicated revenue source. The fund, account, or revenue dedication included in this bill would be subject to funds consolidation review by the current Legislature.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 304 Comptroller of Public Accounts, 580 Water Development Board
304 Comptroller of Public Accounts, 580 Water Development Board
LBB Staff: b > td > JMc, SZ, MW, AJL, KDw, CMA
JMc, SZ, MW, AJL, KDw, CMA