Amend CSHB 4 (house committee report) by adding the following appropriately numbered SECTIONS and renumbering the subsequent SECTIONS of the bill accordingly:
SECTION ____. Sections 6.052(a) and (b), Water Code, are amended to read as follows:
(a) The board is composed of seven [six] members who are appointed by the governor with the advice and consent of the senate.
(b) The governor shall make the appointments in such a manner that:
(1) each member is from a different section of the state and has no conflict of interest prohibited by state or federal law; and
(2) at least two of the members have expertise in the field of finance.
SECTION ____. Section 6.056, Water Code, is amended to read as follows:
Sec. 6.056. TERMS OF OFFICE. The members of the board hold office for staggered terms of six years, with the terms of two or three members expiring every two years. Each member holds office until the member's [his] successor is appointed and has qualified.
SECTION ____. Subchapter C, Chapter 6, Water Code, is amended by adding Section 6.063 to read as follows:
Sec. 6.063. FINANCIAL COMMITTEE. (a) At the board's first meeting each calendar year, the board shall elect from its members three members to serve on the financial committee. At least two of the members of the committee must have expertise in the field of finance.
(b) The financial committee shall evaluate applications for financial assistance submitted to the board before the full board considers the applications. The board by rule shall designate the types of applications the committee will evaluate under this subsection and may classify the applications for that purpose by the amount of money requested in the application.
(c) The financial committee shall submit to the board recommendations on whether the board should approve or deny the applications. The board shall consider the recommendations when evaluating the applications.
(d) The financial committee shall meet in person at least six times each year.
(e) Chapter 551, Government Code, does not apply to a meeting of the committee.
SECTION ____. (a) As soon as practicable after the effective date of this Act, the governor shall appoint one additional member to the Texas Water Development Board, as required under Section 6.052, Water Code, as amended by this Act, for a term beginning January 1, 2014.
(b) The Texas Water Development Board shall appoint the initial members of the financial committee under Section 6.063, Water Code, as added by this Act, at the board's first meeting in 2014.