AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
The Coastal Water Authority (authority) was created by the legislature in 1967 as a conservation and reclamation district. One of its purposes is to provide surface water to regional municipalities and industries. This bill refines the authority's existing parks powers to ensure that it has the flexibility to undertake wetlands and other environmental mitigation activities in connection with the construction of regional water projects and authorized authority activities in an effective and efficient manner while preserving the state's natural resources. This bill clarifies certain powers and limitations upon the authority and provides certain additional powers to the authority.
As proposed, S.B. 1920 amends current law relating to the powers of the Coastal Water Authority and affects the authority to issue bonds.
RULEMAKING AUTHORITY
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 3A, Chapter 601, Acts of the 60th Legislature, Regular Session, 1967, as follows:
Sec. 3A. Authorizes the Coastal Water Authority (authority) to develop and generate electric energy by any means, including wind turbines and hydroelectric facilities, rather than authorizing the authority to develop and generate electric energy for use by the authority or the City of Houston by wind turbines or hydroelectric facilities. Requires that any energy generated by the authority first be made available to the authority and to the City of Houston.
SECTION 2. Amends Section 3B(c), Chapter 601, Acts of the 60th Legislature, Regular Session, 1967, to provide that a corporation created under this section is governed in the same manner as a local government corporation created by a municipality or county, except that the board of the authority is required to appoint the board of the corporation and Section 431.101(g) (relating to requiring a local government corporation to comply with all state law related to the design and construction of projects), Transportation Code, does not apply to a corporation created under this section.
SECTION 3. Amends Chapter 601, Acts of the 60th Legislature, Regular Session, 1967, by adding Section 3E, as follows:
Sec. 3E. Authorizes the authority to participate in a wetland mitigation program under Chapter 221 (Wetland Mitigation), Natural Resources Code.
SECTION 4. Amends Section 4, Chapter 601, Acts of the 60th Legislature, Regular Session, 1967, by amending Subsection (b) and adding Subsection (b-1), as follows:
(b) Redefines "park."
(b-1) Authorizes the authority to exercise any of its existing powers, including its parks powers, to carry out a project or activity that reduces, offsets, or captures and sequesters greenhouse gases or other emissions as provided by law. Authorizes the authority to contract with a private or public entity to sell or trade credits, offsets, tax credits, or other similar marketable instruments authorized by law and available to the authority attributable to any such project or activity. Authorizes the authority to pledge any stream of revenue from any such transaction to the issuance of bonds or notes to fund any authorized purpose of the authority. Authorizes the authority to contract with any other governmental entity to issue bonds or notes secured by a stream of revenue from the entity attributable to any such project or activity. Authorizes the proceeds of the bonds to be used to fund any authorized purpose of the authority or any joint project with the participating governmental entity.
SECTION 5. Provides that all requirements of the constitution and the laws of this state and the rules and procedures of the legislature with respect to the notice, introduction, and passage of this Act are fulfilled and accomplished.
SECTION 6. Effective date: upon passage or September 1, 2011.