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A JOINT RESOLUTION
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proposing a constitutional amendment creating the Texas water fund |
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to assist in financing water projects in this state. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Article III, Texas Constitution, is amended by |
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adding Section 49-d-16 to read as follows: |
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Sec. 49-d-16. (a) The Texas water fund is created as a |
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special fund in the state treasury outside the general revenue |
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fund. The fund is administered by the Texas Water Development Board |
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or by that board's successor in function as provided by general law. |
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(b) The administrator of the Texas water fund may use the |
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fund only to transfer money to other funds or accounts administered |
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by the Texas Water Development Board or that board's successor in |
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function. The administrator may restore to the fund money |
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transferred from the fund and deposited to the credit of another |
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fund or account. Legislative appropriation is not required for the |
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administrator to transfer money from or restore money to the fund. |
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(c) The Texas water fund consists of: |
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(1) money transferred or deposited to the credit of |
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the fund by general law, including money appropriated by the |
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legislature directly to the fund and money from any source |
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transferred or deposited to the credit of the fund authorized by |
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general law; |
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(2) any other revenue that the legislature by statute |
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dedicates for deposit to the credit of the fund; |
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(3) investment earnings and interest earned on amounts |
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credited to the fund; |
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(4) money from gifts, grants, or donations to the |
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fund; and |
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(5) money returned from any authorized transfer. |
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(d) The legislature by general law shall provide for the |
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manner in which money from the Texas water fund may be used, subject |
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to the limitations provided by this section. |
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(e) The legislature by general law may provide for costs of |
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investment of the Texas water fund to be paid from that fund. |
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(f) For purposes of Section 22, Article VIII, of this |
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constitution: |
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(1) money in the Texas water fund is dedicated by this |
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constitution; and |
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(2) an appropriation of state tax revenues for the |
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purpose of depositing money to the credit of the Texas water fund is |
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treated as if it were an appropriation of revenues dedicated by this |
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constitution. |
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(g) On January 1, 2024, the comptroller of public accounts |
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shall transfer $3 billion of the unencumbered balance of the |
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general revenue fund that exists on that date to the Texas water |
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fund. This subsection expires December 31, 2024. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 7, 2023. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment creating the Texas |
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water fund to assist in financing water projects in this state." |