AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
Reduces the number directors of the Texas Water Resources Finance Authority from six to three and changes the number of board members it takes to request and hold a special meeting from three or more to a majority of the directors.
H.B. 4, 83rd Legislature, Regular Session, changed the number of Texas Water Development Board members from six to three. However, the number of directors of the Texas Water Finance Authority was not changed, and the law still reads a six-member board.
This legislation addresses the issue by changing the language for the number of board of directors from six to three, to match that in H.B. 4, and changing the number of board members it takes to request and hold a special meeting from three or more to a majority of the directors.
As proposed, S.B. 1301 amends current law relating to the governance and administration of the Texas Water Resources Finance Authority.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 20.012(a), Water Code, to provide that the Texas Water Resources Finance Authority is governed by a board of directors (board) composed of the directors, rather than the six directors, of the Texas Water Development Board.
SECTION 2. Amends Section 20.015(b), Water Code, to authorize the board to hold special meetings at the call of the chairman or on request of a majority of the directors, rather than three or more directors.
SECTION 3. Effective date: upon passage or September 1, 2015.