SRC-ARR S.B. 1611 76(R) BILL ANALYSIS Senate Research Center S.B. 1611 76R8955 WP-FBy: Lucio Natural Resources 4/19/1999 As Filed DIGEST The Laguna Madre Water District (district) is not a developer-created water district. The district was created in 1954, has never defaulted on its bond obligations, and has a high bond rating. The district was never the intended target of the Texas Natural Resource Conservation Commission (TNRCC) oversight for bond issuance. The amount of time and expenses required to support TNRCC review over bond issuance is extensive. This bill would allow the district to issue bonds without the review by the TNRCC. PURPOSE As proposed, S.B. 1611 regulates the authority of the Texas Natural Resource Conservation Commission over the issuance of bonds by the Laguna Madre Water District. RULEMAKING AUTHORITY This bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Provides that Section 49.181, Water Code, does not apply to the Laguna Madre Water District. SECTION 2. Emergency clause. Effective date: upon passage.