Amend CSSB 7 (senate committee printing) as follows:
(1) In SECTION 1.01 of the substitute, in added Section 6.305, Water Code, between "fund" and the underlined colon (page 2, line 20), insert "administrative account established under Section 15.508".
(2) In SECTION 1.04 of the substitute (page 3, lines 25 and 26), strike added Section 15.502(b)(4-a), Water Code, and substitute the following:
(4-a) the Texas water fund administrative account established under Section 15.508;
(4-b) the flood infrastructure fund established under Subchapter I;
(3) Strike the recital to SECTION 1.06 of the substitute (page 3, line 69, through page 4, line 2) and substitute the following:
SECTION 1.06. Section 15.504, Water Code, is amended by amending Subsections (b), (c), and (f) and adding Subsection (f-1) to read as follows:
(b) Except as provided by Subsection (f), the [The] board may not transfer money to a fund or account described by Section 15.502(b) until the application for the project for which the money is to be used has been approved.
(4) In SECTION 1.06 of the substitute (page 4, lines 17 through 22), strike amended Section 15.504(f), Water Code, and substitute the following:
(f) The board shall:
(1) transfer two percent of the money deposited to the credit of the fund in each fiscal year to the Texas water fund administrative account established under Section 15.508; and
(2) [may use the fund to] pay from that account:
(A) the necessary and reasonable expenses of the board in administering the fund;
(B) the expenses described by Section 6.305; and
(C) other expenses as authorized by law [not to exceed two percent].
(5) In SECTION 1.06 of the substitute, in added Section 15.504(f-1), Water Code (page 4, line 24), strike "pay from the fund" and substitute "pay from the Texas water fund administrative account established under Section 15.508".
(6) In ARTICLE 1 of the substitute, add the following appropriately numbered SECTION and renumber subsequent SECTIONS of the ARTICLE accordingly:
SECTION 1.___. Subchapter H-1, Chapter 15, Water Code, is amended by adding Section 15.508 to read as follows:
Sec. 15.508. ADMINISTRATIVE ACCOUNT. (a) The Texas water fund administrative account is an account in the fund administered by the board and established for the payment of the expenses incurred by the board in administering the fund, including the expenses described by Section 15.504(f)(2).
(b) The Texas water fund administrative account consists of:
(1) money appropriated to the board for deposit to the credit of the account;
(2) money transferred by the board to the account under Section 15.504(f) or other law; and
(3) depository interest allocable to the account.