By:  Montford                                          S.B. No. 768
                                 A BILL TO BE ENTITLED
                                        AN ACT
    1-1  relating to the recovery of the costs of administering the state
    1-2  water pollution control revolving fund and additional state
    1-3  revolving funds.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Subchapter J, Chapter 15, Water Code, is amended
    1-6  by adding Section 15.609 to read as follows:
    1-7        Sec. 15.609.  RECOVERY OF ADMINISTRATIVE COSTS.  (a)  The
    1-8  board may charge a recipient of financial assistance from the
    1-9  revolving fund or an additional state revolving fund an origination
   1-10  fee and an annual fee.  The board by rule shall set the fees at
   1-11  amounts it considers necessary to recover the costs incurred by the
   1-12  board in administering the revolving fund or an additional state
   1-13  revolving fund that are not paid from that fund.
   1-14        (b)  The board may establish one or more operating funds to
   1-15  finance the administration of the revolving fund or an additional
   1-16  state revolving fund.  An operating fund must be held outside the
   1-17  state treasury and separate from the fund to which it relates.  The
   1-18  board shall deposit to the credit of the appropriate operating fund
   1-19  the fees collected under Subsection (a).  The board shall use money
   1-20  deposited to the credit of an operating fund to pay the board's
   1-21  costs of administering the revolving fund or additional state
   1-22  revolving fund to which the operating fund relates, including the
   1-23  cost of servicing debt obligations of recipients of financial
   1-24  assistance made available from the revolving fund or additional
    2-1  state revolving fund.
    2-2        (c)  The board may not transfer money in the revolving fund
    2-3  or an additional state revolving fund to an operating fund, but the
    2-4  board may transfer money in an operating fund to the revolving fund
    2-5  or additional state revolving fund to which the operating fund
    2-6  relates.
    2-7        (d)  Money in an operating fund shall be invested in
    2-8  authorized investments as provided by board order, resolution, or
    2-9  rule.
   2-10        (e)  The board may agree with the holder of a bond the
   2-11  proceeds of which will be deposited in the revolving fund or an
   2-12  additional state revolving fund that the board will use money in an
   2-13  operating fund only as provided by this section.
   2-14        SECTION 2.  The importance of this legislation and the
   2-15  crowded condition of the calendars in both houses create an
   2-16  emergency and an imperative public necessity that the
   2-17  constitutional rule requiring bills to be read on three several
   2-18  days in each house be suspended, and this rule is hereby suspended,
   2-19  and that this Act take effect and be in force from and after its
   2-20  passage, and it is so enacted.