Honorable Charles Perry, Chair, Senate Committee on Water, Agriculture, & Rural Affairs
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.), Committee Report 1st House, Substituted
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. 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 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:
304 Comptroller of Public Accounts, 580 Water Development Board