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A BILL TO BE ENTITLED
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AN ACT
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relating to an interim study of the financing of regional projects |
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and facilities to convert from groundwater to surface water. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. WORKING GROUP. (a) A working group is formed to |
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study, review, and report to the legislature on the methods for |
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financing or refinancing the regional water projects and facilities |
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to convert from groundwater to surface water. |
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(b) The working group is composed of representatives of the |
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Texas Water Development Board, the Texas Public Finance Authority, |
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and the local governments in Harris and Fort Bend counties that have |
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borrowed money for surface water conversion projects from the Texas |
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Water Development Board. The participation of said local |
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governments is not mandatory and the lack of participation by any |
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local government shall not affect the ability of the working group |
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to proceed. |
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(c) The chair of the Texas Water Development Board, or her |
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designee, shall serve as chair of the working group. |
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(d) The working group shall convene at the call of the |
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chair. |
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(e) All members of the Texas House or Texas Senate may |
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request to be kept informed of the working group's progress. |
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SECTION 2. STUDY. The working group formed by this Act |
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shall study: |
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(1) the extensive useful life of regional facilities |
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and improvements to convert from groundwater to surface water; |
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(2) the comparatively short period of time of the |
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financing of the cost of such facilities; |
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(3) the economic impact to current water users in |
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paying the costs of facilities that will provide service for future |
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water users; |
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(4) the terms of current and anticipated financings of |
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the costs of facilities; |
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(5) the goal of more even distribution of the costs so |
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that they are born by the users throughout the useful life of the |
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project; |
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(6) the fairness and equity benefits to the water |
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users of extension of financings for longer periods of time |
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compared to the potential increase in financing costs; |
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(7) methods for the financing and refinancing of |
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projects so that the cost of the projects are more evenly |
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distributed and born by the users throughout the useful life of the |
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project; |
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(8) policies and procedures of the State and the Texas |
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Water Development Board that can better accomplish the goal of |
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better distribution of the cost burden; |
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(9) whether the Texas Water Development Board's |
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financing terms and conditions of existing and future borrowings |
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can be improved to better accomplish the goal of better |
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distribution of the cost burden; |
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(10) whether funding could be applied to refinance or |
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restructure existing financings; |
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(11) whether costs of the projects could be fundied by |
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grants instead of loans or whether the State or the Texas Water |
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Development Board could forgive loans or portions of loans to |
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better accomplish the goal of better distribution of the cost |
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burden; and |
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(12) whether potential measures that could further the |
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goal of more even distribution of the costs so that they are born by |
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the users throughout the useful life of the project are precluded by |
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state law, and what changes to state law would be necessary to |
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enable their adoption. |
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SECTION 3. FINDINGS AND RECOMMENDATIONS. (a) If the |
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working group determines that changes and improvements by the State |
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or its agencies, including the Texas Water Development Board, are |
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warranted and possible without further legislative authorization, |
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the working group shall seek implementation of those changes and |
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improvements. |
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(b) Not later than September 1, 2024, the working group |
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formed by this Act shall report the working group's findings and |
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recommendations to the lieutenant governor, the speaker of the |
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house of representatives, and the governor. |
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SECTION 4. EXPIRATION. This Act expires September 1, 2025. |
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SECTION 5. EFFECTIVE DATE. This Act takes effect |
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immediately if it receives a vote of two-thirds of all the members |
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elected to each house, as provided by Section 39, Article III, Texas |
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Constitution. If this Act does not receive the vote necessary for |
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immediate effect, this Act takes effect September 1, 2023. |