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A BILL TO BE ENTITLED
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AN ACT
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relating to the creation and funding of the state water |
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implementation fund for Texas to assist the Texas Water Development |
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Board in the funding of certain water-related projects. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 15, Water Code, is amended by adding |
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Subchapter G to read as follows: |
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SUBCHAPTER G. STATE WATER IMPLEMENTATION FUND FOR TEXAS |
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Sec. 15.431. DEFINITIONS. In this subchapter: |
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(1) "Advisory committee" means the State Water |
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Implementation Fund for Texas Advisory Committee. |
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(2) "Fund" means the state water implementation fund |
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for Texas. |
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Sec. 15.432. STATE WATER IMPLEMENTATION FUND FOR TEXAS. |
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(a) The state water implementation fund for Texas is a special fund |
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outside the state treasury to be administered without further |
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appropriation by the board under this subchapter and rules adopted |
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by the board under this subchapter. |
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(b) The fund consists of: |
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(1) money transferred or deposited to the credit of |
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the fund by law; |
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(2) the proceeds of any fee or tax imposed by this |
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state that the legislature by statute dedicates for deposit to the |
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credit of the fund; |
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(3) any other revenue that the legislature by statute |
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dedicates for deposit to the credit of the fund; and |
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(4) interest earned on the balance of the fund. |
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Sec. 15.433. USE OF FUND. (a) The board may use money in |
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the fund only to provide financing for: |
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(1) projects included in the state water plan that are |
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authorized under Subchapter Q or R of this chapter, Subchapter E, |
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Chapter 16, or Subchapter J or K, Chapter 17, including water |
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conservation or reuse projects designed to reduce the need for this |
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state or political subdivisions of this state to develop additional |
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water resources; or |
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(2) education projects developed or approved by the |
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board that are related to the development of water resources, the |
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conservation of existing water resources, or water reuse. |
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(b) Not less than 20 percent of the money from the fund used |
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by the board in any state fiscal biennium must be used to finance |
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projects described by Subsection (a) for water conservation or |
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reuse or education. |
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(c) The board shall undertake to use money from the fund in |
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an amount sufficient to provide adequate financing for projects |
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described by Subsection (a) in each regional water planning area in |
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this state. The board shall prioritize projects in each regional |
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water planning area for purposes of this subsection. |
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Sec. 15.434. TRANSFERS TO OTHER ACCOUNTS OR FUNDS. The |
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board may direct the comptroller to transfer amounts from the fund |
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to the credit of: |
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(1) the water infrastructure fund to be used for the |
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purposes provided by Section 15.433 related to projects included in |
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the state water plan that are authorized under Subchapter Q; |
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(2) the rural water assistance fund to be used for the |
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purposes provided by Section 15.433 related to projects included in |
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the state water plan that are authorized under Subchapter R; |
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(3) the Texas Water Development Fund II state |
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participation account to be used for the purposes provided by |
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Section 15.433 related to projects included in the state water plan |
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that are authorized under Subchapter E, Chapter 16; |
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(4) the agricultural water conservation fund to be |
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used for the purposes provided by Section 15.433 related to |
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projects included in the state water plan that are authorized under |
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Subchapter J, Chapter 17; or |
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(5) the Texas Water Development Fund II economically |
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distressed areas program account to be used for the purposes |
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provided by Section 15.433 related to projects included in the |
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state water plan that are authorized under Subchapter K, Chapter |
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17. |
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Sec. 15.435. ADVISORY COMMITTEE. (a) The State Water |
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Implementation Fund for Texas Advisory Committee is composed of |
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members appointed by the speaker of the house of representatives, |
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the lieutenant governor, and the governor. |
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(b) The advisory committee shall submit recommendations to |
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the board regarding the use of money in the fund for use by the board |
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in adopting rules under Section 15.436. |
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Sec. 15.436. RULES. (a) The board shall adopt rules |
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providing for the use of money in the fund consistent with this |
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subchapter, including rules: |
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(1) establishing standards for the eligibility of |
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water conservation and reuse and education projects for financing |
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under Sections 15.433(a) and (b); and |
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(2) specifying the manner for prioritizing projects |
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for purposes of Section 15.433(c). |
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(b) The board shall give appropriate consideration to the |
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recommendations of the advisory committee before adopting rules |
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under this section. |
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SECTION 2. Section 15.973(b), Water Code, is amended to |
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read as follows: |
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(b) The fund consists of: |
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(1) appropriations from the legislature; |
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(2) any other fees or sources of revenue that the |
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legislature may dedicate for deposit to the fund; |
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(3) repayments of loans made from the fund; |
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(4) interest earned on money credited to the fund; |
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(5) depository interest allocable to the fund; |
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(6) money from gifts, grants, or donations to the |
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fund; |
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(7) money from revenue bonds or other sources |
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designated by the board; [and] |
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(8) proceeds from the sale of political subdivision |
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bonds or obligations held in the fund and not otherwise pledged to |
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the discharge, repayment, or redemption of revenue bonds or other |
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bonds, the proceeds of which were placed in the fund; and |
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(9) money transferred from the state water |
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implementation fund for Texas as authorized by Section 15.434. |
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SECTION 3. Section 15.993, Water Code, is amended to read as |
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follows: |
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Sec. 15.993. FUND. The rural water assistance fund is a |
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special fund in the state treasury. The fund consists of: |
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(1) money directly appropriated to the board for a |
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purpose of the fund; |
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(2) repayment of principal and interest from loans |
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made from the fund not otherwise needed as a source of revenue |
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pursuant to Section 17.9615(b); |
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(3) money transferred by the board from any sources |
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available; |
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(4) interest earned on the investment of money in the |
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fund and depository interest allocable to the fund; |
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(5) money transferred to the fund from the water |
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assistance fund in accordance with Section 15.011(b), including |
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proceeds from the sale of political subdivision bonds by the board |
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to the Texas Water Resources Finance Authority that are deposited |
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in the water assistance fund as provided by Section 17.0871; |
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(6) money from gifts, grants, or donations to the |
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fund; |
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(6-a) money transferred from the state water |
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implementation fund for Texas as authorized by Section 15.434; and |
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(7) any other fees or sources of revenue that the |
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legislature may dedicate for deposit to the fund. |
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SECTION 4. Section 17.895, Water Code, is amended to read as |
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follows: |
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Sec. 17.895. SOURCES OF ASSETS. The fund is composed of: |
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(1) money and assets, including bond proceeds, |
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attributable to the bonds; |
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(2) investment income earned on money on deposit in |
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the fund and depository interest earned on money on deposit in the |
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state treasury; |
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(3) money appropriated by the legislature; |
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(4) repayments of principal and interest on loans made |
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under this subchapter; |
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(5) administrative fees charged by the board under the |
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bond program; |
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(5-a) money transferred from the state water |
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implementation fund for Texas as authorized by Section 15.434; and |
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(6) any other funds, regardless of their source, that |
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the board directs be deposited to the credit of the fund. |
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SECTION 5. Section 17.957(b), Water Code, is amended to |
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read as follows: |
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(b) The state participation account is composed of: |
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(1) money and assets attributable to water financial |
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assistance bonds designated by the board as issued for projects |
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described in Section 16.131; |
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(2) money from the sale, transfer, or lease of a |
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project described in Subdivision (1) that was acquired, |
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constructed, reconstructed, developed, or enlarged with money from |
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the state participation account; |
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(3) payments received under a bond enhancement |
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agreement with respect to water financial assistance bonds |
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designated by the board as issued for projects described in Section |
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16.131; |
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(4) investment income earned on money on deposit in |
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the state participation account; |
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(4-a) money transferred from the state water |
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implementation fund for Texas as authorized by Section 15.434; and |
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(5) any other funds, regardless of their source, that |
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the board directs be deposited to the credit of the state |
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participation account. |
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SECTION 6. Section 17.958(b), Water Code, is amended to |
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read as follows: |
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(b) The economically distressed areas program account is |
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composed of: |
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(1) money and assets attributable to water financial |
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assistance bonds designated by the board as issued for projects |
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described in Subchapter K; |
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(2) money provided by the federal government, the |
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state, political subdivisions, and private entities for the purpose |
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of paying debt service on water financial assistance bonds issued |
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for purposes provided by Subchapter K; |
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(3) payments received under a bond enhancement |
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agreement with respect to water financial assistance bonds |
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designated by the board as issued for purposes provided by |
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Subchapter K; |
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(4) investment income earned on money on deposit in |
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the economically distressed areas program account; |
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(4-a) money transferred from the state water |
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implementation fund for Texas as authorized by Section 15.434; and |
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(5) any other funds, regardless of their source, that |
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the board directs be deposited to the credit of the economically |
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distressed areas program account. |
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SECTION 7. As soon as practicable after the effective date |
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of this Act, the speaker of the house of representatives, the |
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lieutenant governor, and the governor shall appoint the initial |
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members of the State Water Implementation Fund for Texas Advisory |
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Committee created under Section 15.435, Water Code, as added by |
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this Act. |
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SECTION 8. Not later than December 1, 2013, the Texas Water |
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Development Board shall adopt rules under Section 15.436, Water |
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Code, as added by this Act. |
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SECTION 9. This Act takes effect September 1, 2013. |