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Amend CSHB 4 (house committee printing) as follows:
(1) On page 6, line 10, between "J" and the comma, insert "or K".
(2) On page 6, line 21, strike "or".
(3) On page 6, line 24, between "17" and the period, insert the following:
; or
(6) the Texas Water Development Fund II economically distressed areas program account to be used to provide financing for projects included in the state water plan as authorized under Subchapter K, Chapter 17
(4) On page 7, between lines 21 and 22, insert the following:
(c-1) The trust company shall set aside an amount in the fund equal to one-half of the portion of the investment earnings and interest earned during a state fiscal year on amounts credited to the fund that exceeds an annual rate of eight percent. Amounts set aside under this subsection may be used only for the purposes provided by Subsection (b)(6). The trust company shall determine the amount dedicated under this subsection, if any, as soon as practicable after the end of each state fiscal year. Notwithstanding the other provisions of this subchapter, money in the fund may be used for those purposes only to the extent that the money is dedicated under this subsection. Notwithstanding Subsections (c) and (f), to the extent that money is dedicated under this subsection, the board may direct the trust company to use the money for the purposes of a bond enhancement agreement with respect to bonds issued by the board the proceeds of which have been or are to be used to make grants under Section 17.933. Any money transferred back to the fund under Section 17.958(d) is dedicated for the purposes provided by this subsection.
(5) On page 16, line 3, between "J" and the comma, insert "or K".
(6) On page 18, line 2, between "J" and the comma, insert "or K".
(7) On page 19, line 16, between "J" and the comma, insert "or K".
(8) On page 20, line 27, strike "or".
(9) On page 21, line 4, between "plan" and the period, insert the following:
; or
(5) the Texas Water Development Fund II economically distressed areas program account to be used under Subchapter K, Chapter 17, for the purposes provided by Section 15.434 related to projects included in the state water plan
(10) On page 30, between lines 19 and 20, insert the following appropriately numbered SECTION and renumber the subsequent SECTIONS of the bill accordingly:
SECTION ____. Section 17.958, Water Code, is amended by amending Subsection (b) and adding Subsection (d) to read as follows:
(b) The economically distressed areas program account is composed of:
(1) money and assets attributable to water financial assistance bonds designated by the board as issued for projects described in Subchapter K;
(2) money provided by the federal government, the state, political subdivisions, and private entities for the purpose of paying debt service on water financial assistance bonds issued for purposes provided by Subchapter K;
(3) payments received under a bond enhancement agreement with respect to water financial assistance bonds designated by the board as issued for purposes provided by Subchapter K;
(4) investment income earned on money on deposit in the economically distressed areas program account;
(4-a) money disbursed to the economically distressed areas program account from the state water implementation fund for Texas as authorized by Section 15.434; and
(5) any other funds, regardless of their source, that the board directs be deposited to the credit of the economically distressed areas program account.
(d) The board shall transfer back to the state water implementation fund for Texas any money disbursed to the economically distressed areas program account as described by Subsection (b)(4-a) of this section if the requirements of Section 15.435 are satisfied.