2003S0415-1 02/27/03
By: Wise H.B. No. 1875
A BILL TO BE ENTITLED
AN ACT
relating to the water infrastructure fund, rural water assistance
fund, rural community water and wastewater loan fund, and colonia
self-help account.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 15.903, Water Code, as added by Chapter
966, Acts of the 77th Legislature, Regular Session, 2001, is
amended to read as follows:
Sec. 15.903. WATER INFRASTRUCTURE FUND. (a) The water
infrastructure fund is a special fund [account] in the state
treasury [general revenue fund] to be administered by the board
under this subchapter and rules adopted by the board under this
subchapter. Money in the fund may be used to pay for the
implementation of water projects recommended through the state and
regional water planning processes under Sections 16.051 and 16.053.
(b) The fund consists of:
(1) appropriations from the legislature;
(2) any other fees or sources of revenue that the
legislature may dedicate for deposit to the fund;
(3) repayments of loans made from the fund;
(4) interest earned on money credited to the fund;
(5) depository interest allocable to the fund [in the
general revenue fund];
(6) money from gifts, grants, or donations to the
fund;
(7) money from revenue bonds or other sources
designated by the board; and
(8) proceeds from the sale of political subdivision
bonds or obligations held in the fund and not otherwise pledged to
the discharge, repayment, or redemption of revenue bonds or other
bonds, the proceeds of which were placed in the fund.
SECTION 2. Subsection (e), Section 15.903, Water Code, as
added by Chapter 1234, Acts of the 77th Legislature, Regular
Session, 2001, is amended to read as follows:
(e) A loan provided under this subchapter may not exceed a
[$250,000 for each project, and the] term of [a loan may not exceed]
20 years.
SECTION 3. Section 15.951, Water Code, as added by Chapter
966, Acts of the 77th Legislature, Regular Session, 2001, is
amended to read as follows:
Sec. 15.951. PURPOSE. The legislature finds that the rural
areas of the state, characterized by small populations extended
over disproportionately large service areas, require a means of
financing water and water quality enhancement projects in addition
to those established by other provisions of this chapter.
SECTION 4. Section 15.953, Water Code, as added by Chapter
966, Acts of the 77th Legislature, Regular Session, 2001, is
amended to read as follows:
Sec. 15.953. FUND. The rural water assistance fund is a
special fund [account] in the state treasury [general revenue
fund]. The fund consists of:
(1) money directly appropriated to the board;
(2) repayment of principal and interest from loans
made from the fund not otherwise needed as a source of revenue
pursuant to Section 17.9615(b);
(3) money transferred by the board from any sources
available; and
(4) interest earned on the investment of money in the
fund and depository interest allocable to the fund [in the general
revenue fund].
SECTION 5. Subsections (a) and (b), Section 15.954, Water
Code, as added by Chapter 966, Acts of the 77th Legislature, Regular
Session, 2001, are amended to read as follows:
(a) The fund may be used to provide low-interest loans to
rural political subdivisions for water or water-related projects
and for water quality enhancement projects, including the purchase
of well fields, the purchase or lease of rights to produce
groundwater, onsite or wetland wastewater treatment facilities,
and interim financing of construction projects.
(b) The fund may be used to enable a rural political
subdivision to obtain water or wastewater service supplied by
larger political subdivisions or to finance the consolidation or
regionalizing of neighboring political subdivisions, or both.
SECTION 6. Subsections (a) and (b), Section 15.952, Water
Code, as added by Chapter 1234, Acts of the 77th Legislature,
Regular Session, 2001, are amended to read as follows:
(a) The colonia self-help account is an account in the water
assistance fund [general revenue fund] that may be used by the board
[appropriated] only for the purposes of this subchapter.
(b) The account consists of:
(1) money transferred by the legislature directly to
the account;
(2) money transferred at the board's discretion from
the fund; and
(3) gifts, grants, or donations to the account[; and
[(4) interest earned on money credited to the
account].
SECTION 7. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2003.