Bill Text: TX HB1904 | 2021-2022 | 87th Legislature | Enrolled
Bill Title: Relating to the use of the water infrastructure fund.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2021-06-07 - Effective on 9/1/21 [HB1904 Detail]
Download: Texas-2021-HB1904-Enrolled.html
H.B. No. 1904 |
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relating to the use of the water infrastructure fund. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 15.974(a), Water Code, is amended to | ||
read as follows: | ||
(a) The board may use the fund: | ||
(1) to make loans to political subdivisions at or | ||
below market interest rates for projects; | ||
(2) to make grants, low-interest loans, or zero | ||
interest loans to political subdivisions for projects to serve | ||
areas outside metropolitan statistical areas in order to ensure | ||
that the projects are implemented, or for projects to serve | ||
economically distressed areas; | ||
(3) to make loans at or below market interest rates for | ||
planning and design costs, permitting costs, and other costs | ||
associated with state or federal regulatory activities with respect | ||
to a project; | ||
(4) as a source of revenue or security for the payment | ||
of principal and interest on bonds issued by the board if the | ||
proceeds of the sale of the bonds will be deposited in the fund; | ||
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(5) to make transfers from the fund to the financial | ||
assistance account of the Texas Water Development Fund II created | ||
under Section 17.959 for the purposes described in Section 49-d-8, | ||
Article III, Texas Constitution, other than for the purposes | ||
described in Sections 17.957 and 17.958; and | ||
(6) to pay the necessary and reasonable expenses of | ||
the board in administering the fund. | ||
SECTION 2. Section 17.9616(b), Water Code, is amended to | ||
read as follows: | ||
(b) The board shall use the water infrastructure fund as a | ||
source of revenue to be deposited in accordance with this | ||
subchapter for the payment of principal and interest on water | ||
financial assistance bonds issued by the board, the proceeds of | ||
which are to be deposited into the water infrastructure fund and to | ||
be used to make payments under a bond enhancement agreement with | ||
respect to principal or interest on the water financial assistance | ||
bonds or for any other purpose authorized by Section 17.959(c). | ||
SECTION 3. This Act takes effect September 1, 2021. | ||
______________________________ | ______________________________ | |
President of the Senate | Speaker of the House | |
I certify that H.B. No. 1904 was passed by the House on April | ||
16, 2021, by the following vote: Yeas 141, Nays 4, 2 present, not | ||
voting. | ||
______________________________ | ||
Chief Clerk of the House | ||
I certify that H.B. No. 1904 was passed by the Senate on May | ||
19, 2021, by the following vote: Yeas 31, Nays 0. | ||
______________________________ | ||
Secretary of the Senate | ||
APPROVED: _____________________ | ||
Date | ||
_____________________ | ||
Governor |