Amend CSSB 7 (senate committee printing) as follows:
(1) In SECTION 1 of the bill, in added Section 16.454, Water Code (page 2, lines 12-35), strike Subsections (b) and (c) and substitute the following:
(b) The board may use the account only to provide financing for flood projects related to Hurricane Harvey. Financing under this section includes making a:
(1) grant, low-interest loan, or zero-interest loan to an eligible political subdivision to provide nonfederal matching funds to enable the subdivision to participate in a federal program for the development of a:
(A) hazard mitigation plan, under guidelines issued by the Federal Emergency Management Agency or the Texas Division of Emergency Management or the successor in function to those entities; or
(B) public assistance plan, under guidelines issued by the Federal Emergency Management Agency or the Texas Division of Emergency Management or the successor in function to those entities; and
(2) loan to an eligible political subdivision at or below market interest rates for the political subdivision's planning or design costs, permitting costs, or other costs associated with state or federal regulatory activities with respect to a flood project.
(c) A grant or loan awarded under this section:
(1) may be awarded only after the applicant demonstrates that any available insurance, other state funds, and eligible federal funds have been exhausted and that Community Development Block Grant Disaster Recovery funds from the United States Department of Housing and Urban Development have been applied toward the cost of eligible matching funds; and
(2) may not provide more than 75 percent of the portion of the cost of the project that is paid with money other than money from a federal program.
(2) In SECTION 1 of the bill, in added Section 16.455(e)(2), Water Code (page 3, line 57), strike "and".
(3) In SECTION 1 of the bill, in added Section 16.455(e), Water Code, (page 3, line 60), between "applicant" and the underlined period, insert the following:
; and
(4) any other state funds and eligible federal funds have been exhausted and that Community Development Block Grant Disaster Recovery funds from the United States Department of Housing and Urban Development have been applied toward the cost of eligible matching funds