BILL ANALYSIS

H.B. 280

By: Simmons

Natural Resources

Committee Report (Unamended)

BACKGROUND AND PURPOSE

Currently, the Texas Water Development Board is required to post on its website and update certain information regarding the use of the state water implementation fund for Texas. H.B. 280 seeks to require additional information regarding use of the fund to be posted in order to better inform Texans.

CRIMINAL JUSTICE IMPACT

It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.

RULEMAKING AUTHORITY

It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.

ANALYSIS

H.B. 280 amends the Water Code to include the following as information the Texas Water Development Board (TWDB) is required to post and regularly update on its website regarding the use of the state water implementation fund for Texas: a description of the investment portfolio of the fund; the expenses incurred in investing money in the fund; the rate of return on the investment of money in the fund; a description of the point system for prioritizing projects established by the TWDB and the number of points awarded by the TWDB for each project; any nonconfidential information submitted to the TWDB as part of an application for certain financial assistance that is approved by the TWDB; the administrative and operating expenses incurred by the TWDB in developing the state water plan and providing financial assistance for projects included in the plan; and any other information required by TWDB rule.

H.B. 280 specifies that the information the TWDB is required to post regarding, for each regional water planning area, a description of each project funded through bonds supported by an applicable bond enhancement agreement includes, among other things, the amount of bonds issued and the terms of the bonds; a summary of the terms of the bond enhancement agreement; the status of repayment of any loan provided in connection with the project, including an assessment of the risk of default based on a standard risk rating system; and the check register for the project.

EFFECTIVE DATE

September 1, 2015.