HBA-JLV H.J.R. 81 77(R)BILL ANALYSIS


Office of House Bill AnalysisH.J.R. 81
By: Counts
Financial Institutions
7/17/2001
Enrolled



BACKGROUND AND PURPOSE 

With the increasing population of Texas, the need to secure the future of
our state's water supply is of vital importance.  The Texas Water
Development Board (board) currently provides a funding mechanism for new
water management strategies and projects through the Texas Water
Development Fund II.  This fund authorizes the board to issue bonds for a
wide range of projects, including water supply projects, water quality
enhancement projects, flood control projects, state participation in water
and wastewater facilities, and economically distressed areas projects.
However, under current law there is a limit on the amount of bonds which
the board can issue.  As proposed, House Joint Resolution 81 requires the
submission to the voters of a constitutional amendment authorizing the
board to issue additional general obligation bonds in an amount not to
exceed $2 billion for the Texas Water Development Fund II. 

RULEMAKING AUTHORITY

It is the opinion of the Office of House Bill Analysis that this resolution
does not expressly delegate any additional rulemaking authority to a state
officer, department, agency, or institution. 

ANALYSIS

House Joint Resolution 81 amends the Texas Constitution to authorize the
Texas Water Development Board (board) to issue additional general
obligation bonds, at its determination, for one or more accounts of the
Texas Water Development Fund II, in an amount not to exceed $2 billion.
The resolution provides that of the additional general obligation bonds to
be issued, $50 million of those bonds are required to be used for the water
infrastructure fund.  The resolution also provides that a limitation on the
percentage of state participation in any single project does not apply to a
project funded with the proceeds of the bonds. 

FOR ELECTION

November 6, 2001.