The bill would amend the Water Code to expand the permissible uses of the Water Infrastructure Fund (WIF) by allowing the Texas Water Development Board (TWDB) to transfer WIF funds to the financial assistance account of the Texas Water Development Fund II (DFund II). Money transferred into DFund II would no longer be required to have an appropriation.
Based on information provided by TWDB and the Comptroller of Public Accounts, it is assumed that duties and responsibilities associated with implementing the provisions of the bill could be accomplished utilizing existing resources.
This legislation would do one or more of the following: create or recreate a dedicated account in the General Revenue Fund, create or recreate a special or trust fund either with or outside of the Treasury, or create a dedicated revenue source. The fund, account, or revenue dedication included in this bill would be subject to funds consolidation review by the current Legislature.
The bill would take effect September 1, 2021.
No significant fiscal implication to units of local government is anticipated.