S.B. No. 1084




AN ACT
relating to interest-free loans from the Texas Water Development Board for water districts in economically distressed areas. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 17.933, Water Code, is amended by adding Subsection (b-1) to read as follows: (b-1) In providing financial assistance in the form of a loan under this subchapter to a conservation and reclamation district created under authority of Section 52(b)(1) or (2), Article III, or Section 59, Article XVI, Texas Constitution, the board shall make the loan to the district without charging interest. SECTION 2. This Act applies only to a loan made by the Texas Water Development Board to a conservation and reclamation district created under authority of Subdivision (1) or (2), Subsection (b), Section 52, Article III, or Section 59, Article XVI, Texas Constitution, on or after the effective date of this Act. A loan made to a district before the effective date of this Act is governed by the law in effect on the date the loan was made, and the former law is continued in effect for that purpose. SECTION 3. 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.
______________________________ ______________________________ President of the Senate Speaker of the House
I hereby certify that S.B. No. 1084 passed the Senate on April 16, 2003, by the following vote: Yeas 31, Nays 0. ______________________________ Secretary of the Senate I hereby certify that S.B. No. 1084 passed the House on May 2, 2003, by the following vote: Yeas 126, Nays 0, two present not voting. ______________________________ Chief Clerk of the House Approved: ______________________________ Date ______________________________ Governor