SRC-AXB S.J.R. 30 76(R) BILL ANALYSIS Senate Research Center S.J.R. 30 76R6098 MI-DBy: Lucio Border Affairs - Special 4/21/1999 As Filed DIGEST Currently, the Texas Water Development Board is authorized to issue general obligation bonds to fund water and wastewater services for economically distressed areas. S.J.R. 30 proposes a constitutional amendment to authorize the issuance of additional general obligation bonds for this purpose. PURPOSE As proposed, S.J.R. 30 requires the submission to the voters of a constitutional amendment to authorize general obligation bonds to fund water and wastewater services for economically distressed areas. RULEMAKING AUTHORITY This bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Article III, Texas Constitution, by adding Section 49-d-9, as follows: Sec. 49-d-9. Authorizes the Texas Water Development Board to issue additional Texas water development bonds in an aggregate principal of up to $250 million. Authorizes the legislature to provide subsidized loans and grants to pay for connecting residences in economically distressed areas to water and wastewater lines. Sets forth required provisions regarding the administration of the bonds. Provides that there is an appropriation of the first money coming into the state treasury in each fiscal year for the payment of outstanding bond interest. SECTION 2. Requires this proposed constitutional amendment to be submitted to the voters at an election to be held on November 2, 1999. Sets forth the required language for the ballot.