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By: Harris (Senate Sponsor - Kolkhorst) |
H.B. No. 1904 |
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(In the Senate - Received from the House April 19, 2021; |
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May 3, 2021, read first time and referred to Committee on Water, |
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Agriculture & Rural Affairs; May 11, 2021, reported favorably by |
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the following vote: Yeas 6, Nays 0; May 11, 2021, sent to |
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printer.) |
| Click here to see the committee vote |
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A BILL TO BE ENTITLED
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AN ACT
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relating to the use of the water infrastructure fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 15.974(a), Water Code, is amended to |
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read as follows: |
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(a) The board may use the fund: |
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(1) to make loans to political subdivisions at or |
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below market interest rates for projects; |
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(2) to make grants, low-interest loans, or zero |
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interest loans to political subdivisions for projects to serve |
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areas outside metropolitan statistical areas in order to ensure |
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that the projects are implemented, or for projects to serve |
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economically distressed areas; |
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(3) to make loans at or below market interest rates for |
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planning and design costs, permitting costs, and other costs |
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associated with state or federal regulatory activities with respect |
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to a project; |
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(4) as a source of revenue or security for the payment |
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of principal and interest on bonds issued by the board if the |
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proceeds of the sale of the bonds will be deposited in the fund; |
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[and] |
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(5) to make transfers from the fund to the financial |
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assistance account of the Texas Water Development Fund II created |
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under Section 17.959 for the purposes described in Section 49-d-8, |
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Article III, Texas Constitution, other than for the purposes |
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described in Sections 17.957 and 17.958; and |
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(6) to pay the necessary and reasonable expenses of |
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the board in administering the fund. |
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SECTION 2. Section 17.9616(b), Water Code, is amended to |
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read as follows: |
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(b) The board shall use the water infrastructure fund as a |
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source of revenue to be deposited in accordance with this |
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subchapter for the payment of principal and interest on water |
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financial assistance bonds issued by the board, the proceeds of |
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which are to be deposited into the water infrastructure fund and to |
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be used to make payments under a bond enhancement agreement with |
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respect to principal or interest on the water financial assistance |
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bonds or for any other purpose authorized by Section 17.959(c). |
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SECTION 3. This Act takes effect September 1, 2021. |
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