81R20959 SMH-D
 
  By: Hopson, McReynolds H.B. No. 3861
 
  Substitute the following for H.B. No. 3861:
 
  By:  Miller of Comal C.S.H.B. No. 3861
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the financing by the Texas Water Development Board of
  the proposed Lake Columbia reservoir project.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  DEFINITIONS. In this Act:
               (1)  "Authority" means the Angelina and Neches River
  Authority.
               (2)  "Board" means the Texas Water Development Board.
               (3)  "Project" means the proposed Lake Columbia
  reservoir project authorized by Permit to Appropriate State Water
  Number 4228 (Application No. 4537).
         SECTION 2.  LEGISLATIVE FINDINGS. The legislature finds
  that:
               (1)  the project is a rural water project for political
  subdivisions;
               (2)  the construction and development of the project
  are in the public interest;
               (3)  the board has committed to the authority to
  acquire, through the use of money in the Texas Water Development
  Fund II state participation account, an interest in the project for
  an amount not to exceed 50 percent of the total project costs in
  order to support the optimum regional development of the project's
  site; and
               (4)  the board has determined that it is reasonable to
  expect that the state will recover its investment in the facility.
         SECTION 3.  BOARD DISCRETION IN MAKING FINDINGS. (a)  In
  making any statutory finding under Section 16.135(1), Water Code,
  necessary to complete financing of the project, the board may take
  into account any revenue reasonably expected to be received from:
               (1)  a political subdivision not currently under
  contract with the authority to participate in paying the costs of
  the site acquisition stage of the project; or
               (2)  a political subdivision not currently under
  contract to purchase a portion of the water to be supplied by the
  project.
         (b)  The board is not required to identify a political
  subdivision from which revenue is reasonably expected to be
  received as provided by Subsection (a) of this section at the time
  the board makes a finding described by that subsection.
         SECTION 4.  EFFECTIVE DATE.  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, 2009.