| TO: | Honorable Kip Averitt, Chair, Senate Committee on Natural Resources |
| FROM: | John S. O'Brien, Director, Legislative Budget Board |
| IN RE: | SB2313 by Averitt (Relating to the creation of the water plan projects fund to assist the Texas Water Development Board in the funding of certain projects identified in the state and regional water plans.), As Introduced |
The bill would amend the Water Code to create the Water Plan Projects Fund consisting of fees dedicated by the Legislature. The Water Development Board (TWDB) would use the Water Plan Projects Fund to transfer funding to the Texas Water Development Fund II for debt service related to the funding of water projects related to: the Storage Acquisition Program; the Water Infrastructure Fund; financial assistance for flood control; the Revenue Bond Program; and the Economically Distressed Areas Program. The bill would also authorize TWDB to transfer funding from the Water Plan Projects Fund to the Texas Water Development Fund II to meet obligations incurred under a bond enhancement agreement in connections with water projects related to: financial assistance for flood control; the Revenue Bond Program; and the Economically Distressed Areas Program.
Since the fees which would be deposited to the Water Plan Projects Fund are unknown, and TWDB indicates that any costs associated with the bill could be absorbed within the agency’s existing resources, the bill is not anticipated to have a significant fiscal impact.
The bill would take effect immediately if it receives a vote of two-thirds of all members elected to each house; otherwise it would take effect September 1, 2009.
| Source Agencies: | 304 Comptroller of Public Accounts, 352 Bond Review Board, 580 Water Development Board
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| LBB Staff: | JOB, AH, SD
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