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| 4 | 6 | | A JOINT RESOLUTION |
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| 5 | 7 | | proposing a constitutional amendment creating the Local Government |
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| 6 | 8 | | Water Redevelopment Fund to assist in financing water projects in |
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| 7 | 9 | | this state. |
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| 8 | 10 | | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 9 | 11 | | SECTION 1. Article III, Texas Constitution, is amended by |
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| 10 | 12 | | adding Section 49-d-17 to read as follows: |
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| 11 | 13 | | Sec. 49-d-17. (a) The Local Government Water Redevelopment |
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| 12 | 14 | | Fund is created as a special fund in the state treasury outside the |
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| 13 | 15 | | general revenue fund. The fund is administered by the Texas Water |
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| 14 | 16 | | Development Board or by that board's successor in function as |
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| 15 | 17 | | provided by general law. |
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| 16 | 18 | | (b) The Water redevelopment fund consists of: |
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| 17 | 19 | | (1) money transferred or deposited to the credit of |
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| 18 | 20 | | the fund by general law, including money appropriated by the |
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| 19 | 21 | | legislature directly to the fund and money from any source |
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| 20 | 22 | | transferred or deposited to the credit of the fund authorized by |
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| 21 | 23 | | general law; |
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| 22 | 24 | | (2) any other revenue that the legislature by statute |
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| 23 | 25 | | dedicates for deposit to the credit of the fund; |
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| 24 | 26 | | (3) depository interest earned on amounts credited to |
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| 25 | 27 | | the fund; and |
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| 26 | 28 | | (4) money from gifts, grants, or donations to the |
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| 27 | 29 | | fund. |
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| 28 | 30 | | (c) The legislature by general law shall provide for the |
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| 29 | 31 | | manner in which money from the Local Government Water Redevelopment |
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| 30 | 32 | | Fund may be used, subject to the limitations provided by this |
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| 31 | 33 | | section. |
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| 32 | 34 | | (d) The expenses of managing the investments of the Water |
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| 33 | 35 | | redevelopment fund shall be paid from that fund. |
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| 34 | 36 | | (e) For purposes of Section 22, Article VIII, of this |
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| 35 | 37 | | constitution: |
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| 36 | 38 | | (1) money in the Water redevelopment fund is dedicated |
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| 37 | 39 | | by this constitution; and |
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| 38 | 40 | | (2) an appropriation of state tax revenues for the |
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| 39 | 41 | | purpose of depositing money to the credit of the Water |
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| 40 | 42 | | redevelopment fund is treated as if it were an appropriation of |
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| 41 | 43 | | revenues dedicated by this constitution. |
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| 42 | 44 | | (f) Any unexpended and unobligated balance remaining in the |
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| 43 | 45 | | Water redevelopment fund at the end of a state fiscal biennium is |
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| 44 | 46 | | appropriated to the administrator of that fund for the following |
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| 45 | 47 | | state fiscal biennium for the purposes authorized by this section. |
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| 46 | 48 | | SECTION 2. This proposed constitutional amendment shall be |
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| 47 | 49 | | submitted to the voters at an election to be held November 7, 2025. |
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| 48 | 50 | | The ballot shall be printed to permit voting for or against the |
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| 49 | 51 | | proposition: "The constitutional amendment creating the Local |
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| 50 | 52 | | Government Water Redevelopment Fund to assist in financing the |
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| 51 | 53 | | repair and redevelopment of water infrastructure projects in this |
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| 52 | 54 | | state." |
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