By: Perry S.J.R. No. 75

(In the Senate - Filed March 6, 2023; March 7, 2023, read first time and referred to Committee on Water, Agriculture & Rural Affairs; March 21, 2023, reported adversely, with favorable Committee Substitute by the following vote: Yeas 9, Nays 0; March 21, 2023, sent to printer.) Click here to see the committee vote

COMMITTEE SUBSTITUTE FOR S.J.R. No. 75 By: Perry

SENATE 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 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 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) the redeposit of money transferred from the fund.

(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.

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."

* * * * *