| TO: | Honorable Allan Ritter, Chair, House Committee on Natural Resources |
| FROM: | John S O'Brien, Director, Legislative Budget Board |
| IN RE: | HB3273 by Ritter (Relating to the creation and funding of the state water implementation fund for Texas to assist the Texas Water Development Board in the funding of certain projects included in the state water plan.), As Introduced |
The bill would create the State Water Implementation Fund for Texas to be administered by the Water Development Board (TWDB). The fund would consist of any fee or tax dedicated for this purpose; any other fees or sources of revenue that Legislature may dedicate for the fund; appropriations from the Legislature; interest earned on money credited to the fund; and money from gifts, grants, or donations to the fund.
The bill would authorize TWDB to use money in the fund to only pay the principal of and interest on bonds issued by TWDB for projects included in the State Water Plan. The bill would require that no less than 20 percent of the money available in the fund must be used to finance conservation and reuse projects included in the State Water Plan.
The bill would take effect January 1, 2012, but only if the constitutional amendment proposed by the Eighty-second Legislature providing for the creation and funding of the State Water Implementation Fund for Texas is approved by the voters. If the amendment is not approved by the voters, the bill would not take effect.
The bill would require revenue to be collected and deposited to the State Water Implementation Fund for Texas. Based on information provided by the Comptroller of Public Accounts, the amount of revenue that would be generated by this legislation cannot be determined.
| Source Agencies: | 304 Comptroller of Public Accounts, 580 Water Development Board
|
| LBB Staff: | JOB, SZ, ZS, AH
|