reglab/statecodes huggingface dataset:
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter H. State Water Implementation Revenue Fund for Texas › Section 15.472. Fund

Sec. 15.472.  FUND.  (a)  The state water implementation revenue fund for Texas is a special fund in the state treasury outside the general revenue fund to be used by the board, without further legislative appropriation, only for the purpose of providing financing for projects included in the state water plan that are authorized under Subchapter C-1, Q, or R of this chapter, Subchapter E or F, Chapter 16, or Subchapter J or L, Chapter 17.  The board may establish separate accounts in the fund.  The board has legal title to money and investments in the fund until the money is disbursed as provided by this subchapter and board rules.  It is the intent of the legislature that the fund will never be used:
(1)  for a purpose other than the support of projects in the state water plan; or
(2)  to certify that appropriations from the treasury are within the amount estimated to be available in a fund of the treasury affected by the appropriation.
(b)  Money deposited to the credit of the fund may be used only as provided by this subchapter.
(c)  The fund consists of:
(1)  money transferred or deposited to the credit of the fund by law, including money from any source transferred or deposited to the credit of the fund at the board's discretion as authorized by law;
(2)  the proceeds of any fee or tax imposed by this state that by statute is dedicated for deposit to the credit of the fund;
(3)  any other revenue that the legislature by statute dedicates for deposit to the credit of the fund;
(4)  investment earnings and interest earned on amounts credited to the fund;
(5)  the proceeds from the sale of bonds, including revenue bonds issued by the board under this subchapter, that are designated by the board for the purpose of providing money for the fund;
(6)  repayments of loans made from the fund;
(7)  money from the sale, transfer, or lease of a project acquired, constructed, reconstructed, developed, or enlarged with money from the fund; and
(8)  money disbursed to the fund from the state water implementation fund for Texas as authorized by Section 15.434.
Added by Acts 2013, 83rd Leg., R.S., Ch. 207 (H.B. 4), Sec. 2.02, eff. November 5, 2013.
Amended by:
Acts 2023, 88th Leg., R.S., Ch. 457 (S.B. 28), Sec. 4, eff. September 1, 2023.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter H. State Water Implementation Revenue Fund for Texas › Section 15.473. Management and Investment of Fund

Sec. 15.473.  MANAGEMENT AND INVESTMENT OF FUND.  (a)  Money deposited to the credit of the fund shall be invested as determined by the board.  The fund may be invested with the state treasury pool.
(b)  The fund and any accounts established in the fund shall be kept and maintained by or at the direction of the board.
(c)  At the direction of the board, the fund and any accounts established in the fund may be managed by the comptroller or a corporate trustee that is a trust company or a bank that has the powers of a trust company for and on behalf of the board and pending their use for the purposes provided by this subchapter may be invested as provided by an order, resolution, or rule of the board.
(d)  The comptroller or corporate trustee shall manage the fund in strict accordance with this subchapter and the orders, resolutions, and rules of the board.
Added by Acts 2013, 83rd Leg., R.S., Ch. 207 (H.B. 4), Sec. 2.02, eff. November 5, 2013.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter H. State Water Implementation Revenue Fund for Texas › Section 15.474. Use of Fund

Sec. 15.474.  USE OF FUND.  (a)  Except as provided by Subsection (c), money in the fund may be used by the board only to provide financing or refinancing, under terms specified by the board, for projects included in the state water plan that are authorized under Subchapter C-1, Q, or R of this chapter, Subchapter E or F, Chapter 16, or Subchapter J or L, Chapter 17, including water conservation or reuse projects designed to reduce the need for this state or political subdivisions of this state to develop additional water resources.
(b)  Financing or refinancing of projects described by Subsection (a) may be provided by using money in the fund to make loans to eligible political subdivisions or to purchase bonds or other obligations of eligible political subdivisions bearing interest at a rate or rates determined by the board, including a rate or rates below prevailing market rates.
(c)  The board may use money in the fund:
(1)  as a source of revenue or security for:
(A)  the payment of the principal of and interest on:
(i)  revenue bonds issued by the board under this subchapter; or
(ii)  other bonds issued by the board if the proceeds of the bonds will be deposited in the fund; or
(B)  a bond enhancement agreement;
(2)  to acquire loans or other assets from another fund or account administered by the board, including political subdivision bonds sold or disposed of under Section 15.978 or 17.968; or
(3)  to pay the necessary and reasonable expenses of paying agents, bond counsel, and financial advisory services and similar costs incurred by the board in administering the fund.
(d)  The board, or comptroller or corporate trustee managing the fund at the direction of the board as provided by Section 15.473(c), shall withdraw from the fund and forward to another person any amounts, as determined by the board, for timely payment of:
(1)  the principal of and interest on bonds described by Subsection (c)(1)(A) of this section that mature or become due; and
(2)  any cost related to bonds described by Subsection (c)(1)(A) of this section that become due, including payments under related credit agreements or bond enhancement agreements.
Added by Acts 2013, 83rd Leg., R.S., Ch. 207 (H.B. 4), Sec. 2.02, eff. November 5, 2013.
Amended by:
Acts 2023, 88th Leg., R.S., Ch. 457 (S.B. 28), Sec. 5, eff. September 1, 2023.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter H. State Water Implementation Revenue Fund for Texas › Section 15.476. Subchapter Cumulative of Other Laws

Sec. 15.476.  SUBCHAPTER CUMULATIVE OF OTHER LAWS.  (a)  This subchapter is cumulative of other laws on the subject, and the board may use provisions of other applicable laws in the issuance of bonds and other obligations and the execution of bond enhancement agreements, but this subchapter is wholly sufficient authority for the issuance of bonds and other obligations, the execution of bond enhancement agreements, and the performance of all other acts and procedures authorized by this subchapter.
(b)  In addition to other authority granted by this subchapter, the board may exercise the authority granted to the governing body of an issuer with regard to the issuance of obligations under Chapter 1371, Government Code.
Added by Acts 2013, 83rd Leg., R.S., Ch. 207 (H.B. 4), Sec. 2.02, eff. November 5, 2013.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter H. -1. Texas Water Fund › Section 15.501. Definition

Sec. 15.501.  DEFINITION.  In this subchapter, "fund" means the Texas water fund.
Added by Acts 2023, 88th Leg., R.S., Ch. 457 (S.B. 28), Sec. 6, eff. January 1, 2024.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter H. -1. Texas Water Fund › Section 15.502. Fund

Sec. 15.502.  FUND.  (a)  The Texas water fund is a special fund in the state treasury outside the general revenue fund. The fund is administered by the board.
(b)  The board may use the fund only to transfer money to:
(1)  the water assistance fund established under Subchapter B;
(2)  the new water supply for Texas fund established under Subchapter C-1;
(3)  the state water implementation fund for Texas established under Subchapter G;
(4)  the state water implementation revenue fund for Texas established under Subchapter H;
(5)  a revolving fund established under Subchapter J;
(6)  the rural water assistance fund established under Subchapter R;
(7)  the statewide water public awareness account established under Section 16.027;
(8)  the Texas Water Development Fund II water financial assistance account established under Section 17.959; and
(9)  the Texas Water Development Fund II state participation account established under Section 17.957.
(c)  Money and investments in the fund shall be kept and held for and in the name of the board.
(d)  Money in the fund may be used only as provided by this subchapter.
(e)  The fund consists of:
(1)  money transferred or deposited to the credit of the fund by law, including money appropriated by the legislature directly to the fund and money from any source transferred or deposited to the credit of the fund as authorized by law;
(2)  any other revenue that the legislature by statute dedicates for deposit to the credit of the fund;
(3)  investment earnings and interest earned on amounts credited to the fund;
(4)  money from gifts, grants, or donations to the fund; and
(5)  money returned from any authorized transfer.
Added by Acts 2023, 88th Leg., R.S., Ch. 457 (S.B. 28), Sec. 6, eff. January 1, 2024.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter H. -1. Texas Water Fund › Section 15.503. Management and Investment of Fund

Sec. 15.503.  MANAGEMENT AND INVESTMENT OF FUND.  (a)  Money in the fund shall be held and invested by the Texas Treasury Safekeeping Trust Company, taking into account the purposes for which money in the fund may be used.
(b)  The fund and any accounts established in the fund shall be kept and maintained by or at the direction of the board.
(c)  In managing the assets of the fund, the trust company may acquire, exchange, sell, supervise, manage, or retain any kind of investment that a prudent investor, exercising reasonable care, skill, and caution, would acquire or retain in light of the purposes, terms, distribution requirements, and other circumstances of the fund then prevailing, taking into consideration the investment of all the assets of the fund rather than a single investment.  The reasonable expenses of managing the fund's assets shall be paid from the fund.
(d)  Section 404.094(d), Government Code, applies to the fund.
Added by Acts 2023, 88th Leg., R.S., Ch. 457 (S.B. 28), Sec. 6, eff. January 1, 2024.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter H. -1. Texas Water Fund › Section 15.504. Use of Fund

Sec. 15.504.  USE OF FUND.  (a)  The board by resolution may make transfers from the fund to a fund or account described by Section 15.502(b) for an authorized purpose of the receiving fund or account.
(b)  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.
(c)  The board shall ensure that a portion of the money transferred from the fund is used for:
(1)  water infrastructure projects, prioritized by risk or need, for:
(A)  rural political subdivisions; and
(B)  municipalities with a population of less than 150,000;
(2)  projects for which all required state or federal permitting has been substantially completed, as determined by the board;
(3)  the statewide water public awareness program established under Section 16.026;
(4)  water conservation strategies; and
(5)  water loss mitigation projects.
(d)  Money transferred from the fund for the purposes described by Subsection (c) may be transferred to funds or accounts described by Section 15.502(b) to be used to provide financial assistance for any purpose described by Subsection (c) under criteria developed by the board and in accordance with law.
(e)  Money deposited to the credit of the fund as provided by Section 15.154(d) may be used only for the purposes described by Section 15.153(b).
(f)  The board may use the fund to pay the necessary and reasonable expenses of the board in administering the fund not to exceed two percent.
Added by Acts 2023, 88th Leg., R.S., Ch. 457 (S.B. 28), Sec. 6, eff. January 1, 2024.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter H. -1. Texas Water Fund › Section 15.505. Transfer of Money

Sec. 15.505.  TRANSFER OF MONEY.  Notwithstanding any other law:
(1)  the board may:
(A)  transfer money from the fund into any other fund or account described by Section 15.502(b); and
(B)  restore to the fund money transferred from the fund and deposited to the credit of a fund or account described by Section 15.502(b); and
(2)  a fund or account described by Section 15.502(b) may accept a transfer of money made under this subchapter.
Added by Acts 2023, 88th Leg., R.S., Ch. 457 (S.B. 28), Sec. 6, eff. January 1, 2024.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter H. -1. Texas Water Fund › Section 15.506. Advisory Committee

Sec. 15.506.  ADVISORY COMMITTEE.  (a)  The State Water Implementation Fund for Texas Advisory Committee established under Section 15.438:
(1)  shall submit comments and recommendations to the board regarding the use of money in the fund for use by the board in adopting rules under Section 15.507;
(2)  shall review the overall operation, function, and structure of the fund at least annually and may provide comments and recommendations to the board on any matter; and
(3)  may adopt rules, procedures, and policies as needed to administer this section and implement its responsibilities.
(b)  The advisory committee may not recommend specific projects for consideration for receipt of financial assistance from the fund.
Added by Acts 2023, 88th Leg., R.S., Ch. 457 (S.B. 28), Sec. 6, eff. January 1, 2024.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter H. -1. Texas Water Fund › Section 15.507. Rules

Sec. 15.507.  RULES.  (a)  The board may adopt rules providing for the use of money in the fund that are consistent with this subchapter.
(b)  Rules adopted under this section must require each recipient of financial assistance administered through the fund to submit to the board a water conservation plan consistent with the requirements of Section 16.4021.
Added by Acts 2023, 88th Leg., R.S., Ch. 457 (S.B. 28), Sec. 6, eff. January 1, 2024.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter I. Flood Infrastructure Fund › Section 15.531. Definitions

Sec. 15.531.  DEFINITIONS.  In this subchapter:
(1)  "Eligible political subdivision" means a district or authority created under Section 52, Article III, or Section 59, Article XVI, Texas Constitution, a municipality, or a county.
(2)  "Flood project" means a drainage, flood mitigation, or flood control project, including:
(A)  planning and design activities;
(B)  work to obtain regulatory approval to provide nonstructural and structural flood mitigation and drainage;
(C)  construction of structural flood mitigation and drainage infrastructure; and
(D)  construction and implementation of nonstructural projects, including projects that use nature-based features to protect, mitigate, or reduce flood risk.
(3)  "Infrastructure fund" means the flood infrastructure fund.
(4)  Repealed by Acts 2023, 88th Leg., R.S., Ch. 607 (H.B. 3582), Sec. 4(a)(1), eff. September 1, 2023.
Added by Acts 2019, 86th Leg., R.S., Ch. 947 (S.B. 7), Sec. 2.01, eff. January 1, 2020.
Amended by:
Acts 2023, 88th Leg., R.S., Ch. 607 (H.B. 3582), Sec. 4(a)(1), eff. September 1, 2023.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter I. Flood Infrastructure Fund › Section 15.532. Findings

Sec. 15.532.  FINDINGS.  The legislature finds that:
(1)  the creation of the infrastructure fund and the administration of the fund by the board will encourage the development of nonstructural and structural flood mitigation in the state;
(2)  the use of the infrastructure fund is in furtherance of the public purpose of mitigating the effects of flooding in the state; and
(3)  the use of the infrastructure fund for the purposes provided by this subchapter is for the benefit of both the state and the political subdivisions to which the board makes financial assistance available in accordance with this subchapter and constitutes a program under Sections 49-d-3 and 52-a, Article III, Texas Constitution.
Added by Acts 2019, 86th Leg., R.S., Ch. 947 (S.B. 7), Sec. 2.01, eff. January 1, 2020.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter I. Flood Infrastructure Fund › Section 15.533. Flood Infrastructure Fund

Sec. 15.533.  FLOOD INFRASTRUCTURE FUND.  (a)  The flood infrastructure fund is a special fund in the state treasury outside the general revenue fund.
(b)  The infrastructure fund may be used by the board, without further legislative appropriation, only as provided by this subchapter.
(c)  The infrastructure fund consists of:
(1)  appropriations from the legislature for a purpose of the infrastructure fund;
(2)  proceeds of general obligation bonds issued for a purpose of the infrastructure fund;
(3)  any fees or other sources of revenue that the legislature dedicates for deposit to the infrastructure fund;
(4)  repayments of loans made from the infrastructure fund;
(5)  interest earned on money credited to the infrastructure fund;
(6)  depository interest allocable to the infrastructure fund;
(7)  money from gifts, grants, or donations to the infrastructure fund; and
(8)  money from revenue bonds or other sources designated by the board for deposit to the infrastructure fund.
Added by Acts 2019, 86th Leg., R.S., Ch. 947 (S.B. 7), Sec. 2.01, eff. January 1, 2020.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter I. Flood Infrastructure Fund › Section 15.534. Use of Infrastructure Fund

Sec. 15.534.  USE OF INFRASTRUCTURE FUND.  (a)  The board may use the infrastructure fund only:
(1)  to make a loan to an eligible political subdivision at or below market interest rates for a flood project;
(2)  to make a grant or loan at or below market interest rates to an eligible political subdivision for a flood project to serve a rural political subdivision in order to ensure that the flood project is implemented;
(3)  to make a loan 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 flood project;
(4)  to make a grant to an eligible political subdivision to provide matching funds to enable the eligible political subdivision to participate in a federal program for a flood project;
(5)  to make a grant to an eligible political subdivision for a flood project if the board determines that the eligible political subdivision does not have the ability to repay a loan;
(6)  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 infrastructure fund;
(7)  to pay the necessary and reasonable expenses of the board in administering the infrastructure fund; and
(8)  to make transfers to the research and planning fund created under Section 15.402.
(b)  Principal and interest payments on loans made under Subsection (a)(3) may be deferred for not more than 10 years or until construction of the flood project is completed, whichever is earlier.
(c)  Except as provided by Subsections (a)(6)-(8), after the adoption of the initial state flood plan, the board may use the infrastructure fund to provide financing only for flood projects included in the state flood plan.
(d)  Money from the infrastructure fund may be awarded to several eligible political subdivisions for a single flood project.
Added by Acts 2019, 86th Leg., R.S., Ch. 947 (S.B. 7), Sec. 2.01, eff. January 1, 2020.
Amended by:
Acts 2023, 88th Leg., R.S., Ch. 607 (H.B. 3582), Sec. 2, eff. September 1, 2023.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter I. Flood Infrastructure Fund › Section 15.535. Application Requirements

Sec. 15.535.  APPLICATION REQUIREMENTS.  (a)  Except as provided by Subsection (c), an eligible political subdivision applying for financial assistance under this subchapter for a proposed flood project must demonstrate in the application that:
(1)  the eligible political subdivision has acted cooperatively with other political subdivisions to address flood control needs in the area in which the eligible political subdivisions are located;
(2)  all eligible political subdivisions substantially affected by the proposed flood project have participated in the process of developing the proposed flood project;
(3)  the eligible political subdivisions, separately or in cooperation, have held public meetings to accept comment on proposed flood projects from interested parties; and
(4)  the technical requirements for the proposed flood project have been completed and compared against any other potential flood projects in the same area.
(b)  The application must include an analysis of whether the proposed flood project could use floodwater capture techniques for water supply purposes, including floodwater harvesting, detention or retention basins, or other methods of capturing storm flow or unappropriated flood flow.
(c)  An eligible political subdivision applying for assistance under Section 15.534(a)(3) is not required to make the demonstration described by Subsection (a)(4) of this section.
Added by Acts 2019, 86th Leg., R.S., Ch. 947 (S.B. 7), Sec. 2.01, eff. January 1, 2020.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter I. Flood Infrastructure Fund › Section 15.536. Approval of Applications

Sec. 15.536.  APPROVAL OF APPLICATIONS.  On review and recommendation by the executive administrator, the board may approve an application only if the board finds that:
(1)  the application and the assistance applied for meet the requirements of this subchapter and board rules;
(2)  the application demonstrates a sufficient level of cooperation among eligible political subdivisions and includes all of the eligible political subdivisions substantially affected by the flood project; and
(3)  the taxes or other revenue, or both the taxes and other revenue, pledged by the applicant will be sufficient to meet all the obligations assumed by the eligible political subdivision.
Added by Acts 2019, 86th Leg., R.S., Ch. 947 (S.B. 7), Sec. 2.01, eff. January 1, 2020.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter I. Flood Infrastructure Fund › Section 15.537. Rules

Sec. 15.537.  RULES.  The board shall adopt rules necessary to carry out this subchapter, including rules:
(1)  that establish procedures for an application for and for the award of financial assistance;
(2)  for the investment of money; and
(3)  for the administration of the infrastructure fund.
Added by Acts 2019, 86th Leg., R.S., Ch. 947 (S.B. 7), Sec. 2.01, eff. January 1, 2020.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter I. Flood Infrastructure Fund › Section 15.538. Information Clearinghouse

Sec. 15.538.  INFORMATION CLEARINGHOUSE.  The board shall act as a clearinghouse for information about state and federal flood planning, mitigation, and control programs that may serve as a source of funding for flood projects.
Added by Acts 2019, 86th Leg., R.S., Ch. 947 (S.B. 7), Sec. 2.01, eff. January 1, 2020.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter I. Flood Infrastructure Fund › Section 15.539. Liability

Sec. 15.539.  LIABILITY.  Participation in cooperative flood planning to obtain money under this subchapter does not subject the state or an eligible political subdivision to civil liability in regard to a flood project.
Added by Acts 2019, 86th Leg., R.S., Ch. 947 (S.B. 7), Sec. 2.01, eff. January 1, 2020.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter I. Flood Infrastructure Fund › Section 15.540. Advisory Committee

Sec. 15.540.  ADVISORY COMMITTEE.  (a)  In this section, "advisory committee" means the State Water Implementation Fund for Texas Advisory Committee described by Section 15.438.
(b)  The advisory committee shall:
(1)  review the overall operation, function, and structure of the infrastructure fund at least semiannually and may provide comments and recommendations to the board on any matter; and
(2)  make recommendations to the board regarding information on the infrastructure fund to be posted on the board's Internet website.
(c)  The advisory committee may:
(1)  submit comments and recommendations to the board regarding the use of money in the infrastructure fund and for use by the board in adopting rules; and
(2)  adopt rules, procedures, and policies as needed to administer this section and implement its responsibilities.
Added by Acts 2019, 86th Leg., R.S., Ch. 947 (S.B. 7), Sec. 2.01, eff. January 1, 2020.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter J. Financial Assistance for Water Pollution Control › Section 15.601. Creation of Fund

Sec. 15.601.  CREATION OF FUND.  (a)  The state water pollution control revolving fund shall be administered by the board under this subchapter and rules adopted by the board.  The fund shall be used to provide financial assistance in accordance with the capitalization grant program established under the Federal Water Pollution Control Act (33 U.S.C. Section 1251 et seq.) and Section 15.603 of this code.
(b)  The board may establish one or more additional state revolving funds in accordance with other capitalization grant programs hereafter established by federal agencies or otherwise authorized by federal law.  Such additional state revolving funds shall be held and administered by the board in the same manner as provided by Section 15.603 of this code for the administration of the state water pollution control revolving fund, except that such additional state revolving funds shall be held and administered in accordance with the federal legislation or federal agency program under which the additional state revolving fund was established and shall be used to provide financial assistance to political subdivisions for public works in accordance with such legislation or program.  In the administration of such additional state revolving funds, the board shall have all rights and powers authorized to the board pursuant to this subchapter in connection with the administration of the state water pollution control revolving fund, together with such additional rights and powers as are necessary or appropriate in connection with the administration of such additional state revolving funds.
(c)  The board may, in its discretion, provide for the state water pollution control revolving fund to be merged into any additional state revolving fund hereafter created.
Added by Acts 1987, 70th Leg., ch. 420, Sec. 1, eff. June 17, 1987.  Amended by Acts 1993, 73rd Leg., ch. 184, Sec. 1, eff. May 19, 1993;  Acts 2001, 77th Leg., ch. 1234, Sec. 19, eff. Sept. 1, 2001.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 428 (S.B. 942), Sec. 1, eff. September 1, 2019.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter J. Financial Assistance for Water Pollution Control › Section 15.604. Financial Assistance Under the Revolving Fund

Sec. 15.604.  FINANCIAL ASSISTANCE UNDER THE REVOLVING FUND.
(a)  The board may use the revolving fund for financial assistance only as provided by the federal act:
(1)  to make loans, on the conditions that:
(A)  the loan is made at or below market interest rates, including an interest-free loan;
(B)  principal and interest payments will begin not later than one year after completion of the project to be financed and the loan will be fully amortized not later than the expiration date of the term of the loan;
(C)  the recipient of the loan will establish a dedicated source of revenue for repayment of the loan; and
(D)  the revolving fund will be credited with all payments of principal of and interest on the loan;
(2)  to buy or refinance the debt obligation of political subdivisions at or below market rates if the debt obligations were incurred after March 7, 1985;
(3)  to guarantee or purchase insurance for political subdivisions if the guarantee or insurance would improve access to market credit or reduce interest rates;
(4)  as a source of revenue or security for the payment of principal and interest on bonds issued by the state if the proceeds of the sale of those bonds will be deposited in the revolving fund;
(5)  to provide loan guarantees to similar revolving funds established by municipalities or intermunicipal agencies;
(6)  to earn interest on revolving fund accounts;
(7)  for the reasonable costs of administering the revolving fund and conducting activities provided for by Title VI of the federal act, except that those amounts may not exceed the amount authorized under Title VI of the federal act; and
(8)  for other purposes as provided by the federal act.
(b)  The board shall adopt rules specifying the manner in which any additional state revolving fund hereafter established by the board, or any capitalization grant under the state water pollution control revolving fund, the safe drinking water revolving fund, or any additional state revolving fund, may be used to provide financial assistance to an eligible applicant for public works.  Such rules shall require financial assistance to be provided for the purpose or purposes and on the terms authorized by the federal legislation or federal agency program under which the additional state revolving fund was established or the capitalization grant was awarded.
Added by Acts 1987, 70th Leg., ch. 420, Sec. 1, eff. June 17, 1987.  Amended by Acts 1993, 73rd Leg., ch. 184, Sec. 3, eff. May 19, 1993;  Acts 2001, 77th Leg., ch. 966, Sec. 4.15, eff. Sept. 1, 2001;  Acts 2003, 78th Leg., ch. 200, Sec. 19(c), eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 352, Sec. 3, eff. Sept. 1, 2003.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1243 (S.B. 2314), Sec. 1, eff. June 19, 2009.
Acts 2019, 86th Leg., R.S., Ch. 428 (S.B. 942), Sec. 3, eff. September 1, 2019.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter J. Financial Assistance for Water Pollution Control › Section 15.6042. Cross-Collateralization of Funds

Sec. 15.6042.  CROSS-COLLATERALIZATION OF FUNDS.  (a)  In this section, "state revolving fund bonds" means revenue bonds issued by the board to provide funds for the revolving fund, the safe drinking water revolving fund, or an additional state revolving fund.
(b)  Notwithstanding any other law to the contrary, the board by resolution may approve the use of assets of the revolving fund, the safe drinking water revolving fund, or an additional state revolving fund as a source of revenue or security, or both revenue and security, for the payment of the principal of and interest on state revolving fund bonds.
Added by Acts 2015, 84th Leg., R.S., Ch. 95 (H.B. 1224), Sec. 1, eff. May 23, 2015.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter J. Financial Assistance for Water Pollution Control › Section 15.605. Rules

Sec. 15.605.  RULES.  The board shall adopt necessary rules to carry out this subchapter.
Added by Acts 1987, 70th Leg., ch. 420, Sec. 1, eff. June 17, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter J. Financial Assistance for Water Pollution Control › Section 15.606. Lending Rate

Sec. 15.606.  LENDING RATE.  The board shall determine and provide for the lending rates to be charged on loans from the revolving fund.
Added by Acts 1987, 70th Leg., ch. 420, Sec. 1, eff. June 17, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter J. Financial Assistance for Water Pollution Control › Section 15.607. Approval of Application

Sec. 15.607.  APPROVAL OF APPLICATION.  On review of recommendations by the executive administrator, the board by resolution may approve an application if the board finds that in its opinion the revenue or taxes or both revenue and taxes pledged by the applicant will be sufficient to meet all the obligations assumed by the applicant and that the application and assistance applied for meet the requirements of the federal act and state law, including Section 16.4021.
Added by Acts 1987, 70th Leg., ch. 420, Sec. 1, eff. June 17, 1987.  Amended by Acts 2001, 77th Leg., ch. 966, Sec. 4.16, eff. Sept. 1, 2001.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 4, eff. September 1, 2019.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter J. Financial Assistance for Water Pollution Control › Section 15.608. Approval and Registration

Sec. 15.608.  APPROVAL AND REGISTRATION.  The board may not buy or refinance any bonds or securities or guarantee or purchase insurance for bonds or securities of political subdivisions that have not been approved by the attorney general and registered by the comptroller.
Added by Acts 1987, 70th Leg., ch. 420, Sec. 1, eff. June 17, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter J. Financial Assistance for Water Pollution Control › Section 15.609. Recovery of Administrative Costs

Sec. 15.609.  RECOVERY OF ADMINISTRATIVE COSTS.  (a)  The board may charge a recipient of financial assistance from the revolving fund or an additional state revolving fund an origination fee and an annual fee.  The board by rule shall set the fees at amounts it considers necessary to recover the costs incurred by the board in administering the revolving fund or an additional state revolving fund that are not paid from that fund.
(b)  The board may establish one or more operating funds to finance the administration of the revolving fund or an additional state revolving fund.  An operating fund must be held outside the state treasury and separate from the fund to which it relates.  The board shall deposit to the credit of the appropriate operating fund the fees collected under Subsection (a).  The board shall use money deposited to the credit of an operating fund to pay the board's costs of administering the revolving fund or additional state revolving fund to which the operating fund relates, including the cost of servicing debt obligations of recipients of financial assistance made available from the revolving fund or additional state revolving fund.
(c)  The board may not transfer money in the revolving fund or an additional state revolving fund to an operating fund, but the board may transfer money in an operating fund to the revolving fund or additional state revolving fund to which the operating fund relates.
(d)  Money in an operating fund shall be invested in authorized investments as provided by board order, resolution, or rule.
(e)  The board may agree with the holder of a bond the proceeds of which will be deposited in the revolving fund or an additional state revolving fund that the board will use money in an operating fund only as provided by this section.
Added by Acts 1995, 74th Leg., ch. 281, Sec. 1, eff. June 5, 1995.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter J. Financial Assistance for Water Pollution Control › Section 15.610. Linked Deposit

Sec. 15.610.  LINKED DEPOSIT.  A linked deposit is a deposit governed by a written deposit agreement between the board and an eligible lending institution that provides that:
(1)  the eligible lending institution pay interest on the deposit at a rate determined by the board;
(2)  the state not withdraw any part of the deposit before the expiration of a period set by a written advance notice of the intention to withdraw;  and
(3)  the eligible lending institution agree to lend the value of the deposit to a person at a maximum rate that is the rate paid by the eligible lending institution to the board plus a maximum of four percent.
Added by Acts 2003, 78th Leg., ch. 200, Sec. 19(d), eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 352, Sec. 4, eff. Sept. 1, 2003.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter J. Financial Assistance for Water Pollution Control › Section 15.611. Linked Deposit Program

Sec. 15.611.  LINKED DEPOSIT PROGRAM.  (a)  The board by rule may establish a nonpoint source pollution control linked deposit program in accordance with this subchapter.
(b)  An eligible lending institution may participate in the program established under this section as provided by this subchapter.
Added by Acts 2003, 78th Leg., ch. 200, Sec. 19(d), eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 352, Sec. 4, eff. Sept. 1, 2003.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter J. Financial Assistance for Water Pollution Control › Section 15.612. Application by Eligible Lending Institutions to Participate in Linked Deposit Program

Sec. 15.612.  APPLICATION BY ELIGIBLE LENDING INSTITUTIONS TO PARTICIPATE IN LINKED DEPOSIT PROGRAM.  To participate in the nonpoint source pollution control linked deposit program, an eligible lending institution must:
(1)  solicit loan applications, which must contain a description of a proposed nonpoint source pollution control project;
(2)  review applications to determine if applicants are eligible and creditworthy;  and
(3)  submit the applications of eligible and creditworthy applicants to the executive administrator with a certification:
(A)  of the interest rate applicable to each applicant by the eligible lending institution;  and
(B)  of the proposed project by the appropriate person as required by Section 15.613.
Added by Acts 2003, 78th Leg., ch. 200, Sec. 19(d), eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 352, Sec. 4, eff. Sept. 1, 2003.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter J. Financial Assistance for Water Pollution Control › Section 15.613. Certification of Project

Sec. 15.613.  CERTIFICATION OF PROJECT.  (a)  An eligible lending institution must obtain from a director of a soil and water conservation district certification of an agricultural or silvicultural nonpoint source pollution control project proposed for the district.  The certification must state that:
(1)  the applicant of the proposed project has a water quality management plan certified by the State Soil and Water Conservation Board;  and
(2)  the project furthers or implements the plan.
(b)  An eligible lending institution must obtain from the executive director certification of a proposed nonpoint source pollution control project that is not an agricultural or silvicultural nonpoint source pollution control project.  The certification must state that the applicant's proposed project implements the state's nonpoint source pollution management plan.
Added by Acts 2003, 78th Leg., ch. 200, Sec. 19(d), eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 352, Sec. 4, eff. Sept. 1, 2003.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter J. Financial Assistance for Water Pollution Control › Section 15.614. Approval or Rejection of Application

Sec. 15.614.  APPROVAL OR REJECTION OF APPLICATION.  The board may approve or reject an application of an eligible lending institution to participate in the program.  The board may delegate its authority to approve or reject an application to the executive administrator.
Added by Acts 2003, 78th Leg., ch. 200, Sec. 19(d), eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 352, Sec. 4, eff. Sept. 1, 2003.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter J. Financial Assistance for Water Pollution Control › Section 15.615. Deposit Agreement

Sec. 15.615.  DEPOSIT AGREEMENT.  If the board approves an application of an eligible lending institution, the board and the eligible lending institution shall enter into a written deposit agreement.  The agreement shall contain the conditions on which the linked deposit is made.  On execution of the agreement, the board shall place a linked deposit from the revolving fund with the eligible lending institution in accordance with the agreement.  A delay in payment or a default on a loan by an applicant does not affect the validity of the deposit agreement.
Added by Acts 2003, 78th Leg., ch. 200, Sec. 19(d), eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 352, Sec. 4, eff. Sept. 1, 2003.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter J. Financial Assistance for Water Pollution Control › Section 15.616. Compliance

Sec. 15.616.  COMPLIANCE.  (a)  On accepting a linked deposit, an eligible lending institution must lend money to an approved applicant in accordance with the deposit agreement and this subchapter.  The eligible lending institution shall forward a compliance report to the board in accordance with board rules.  The board shall adopt rules regarding the compliance report.
(b)  The board shall monitor compliance with this subchapter and inform the comptroller of noncompliance on the part of an eligible lending institution.
Added by Acts 2003, 78th Leg., ch. 200, Sec. 19(d), eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 352, Sec. 4, eff. Sept. 1, 2003.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter J. Financial Assistance for Water Pollution Control › Section 15.617. State Liability Prohibited

Sec. 15.617.  STATE LIABILITY PROHIBITED.  The state is not liable to an eligible lending institution for payment of the principal, interest, or any late charges on a loan made to an approved applicant.  A linked deposit is not an extension of the state's credit within the meaning of any state constitutional prohibition.
Added by Acts 2003, 78th Leg., ch. 200, Sec. 19(d), eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 352, Sec. 4, eff. Sept. 1, 2003.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter J. Financial Assistance for Water Pollution Control › Section 15.618. Limitations on Program

Sec. 15.618.  LIMITATIONS ON PROGRAM.  (a)  The maximum amount of a loan under the linked deposit program is $250,000.
(b)  The board may withdraw linked deposits from an eligible lending institution if the institution ceases to be either a state depository or a Farm Credit System institution headquartered in this state.
Added by Acts 2003, 78th Leg., ch. 200, Sec. 19(d), eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 352, Sec. 4, eff. Sept. 1, 2003.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter K. Texas Water Bank › Section 15.701. Definitions

Sec. 15.701.  DEFINITIONS.  In this subchapter:
(1)  "Deposit" means the placement of a water right or the right to use water in the water bank for transfer.
(2)  "Depositor" means a person who deposits or has on deposit a water right in the water bank or trust.
(3)  "Person" includes but is not limited to any individual, corporation, organization, government, or governmental subdivision or agency, including the board, business trust, estate, trust, partnership, association, and any other legal entity.
(4)  "Transfer" means the conveyance of a water right or the right to use water under a water right in any of the following manners:
(A)  the conveyance of legal title to a water right;  or
(B)  a contract or option contract to allow use of a water right.
(5)  "Trust" means the Texas Water Trust.
(6)  "Water bank" or "bank" means the Texas Water Bank.
(7)  "Water right" means a right acquired or authorized under the laws of this state to impound, divert, or use state water, underground water, or water from any source to the extent authorized by law.
Added by Acts 1993, 73rd Leg., ch. 647, Sec. 1, eff. Aug. 30, 1993.  Amended by Acts 1997, 75th Leg., ch. 1010, Sec. 2.13, eff. Sept. 1, 1997;  Acts 2001, 77th Leg., ch. 966, Sec. 2.14, eff. Sept. 1, 2001.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 15 - Texas Water Assistance Program › Subchapter K. Texas Water Bank › Section 15.702. Creation of Bank

Sec. 15.702.  CREATION OF BANK.  The Texas Water Development Board shall establish the Texas Water Bank.  The board shall administer the water bank to facilitate water transactions to provide sources of adequate water supplies for use within the State of Texas.
Added by Acts 1993, 73rd Leg., ch. 647, Sec. 1, eff. Aug. 30, 1993.  Amended by Acts 1997, 75th Leg., ch. 1010, Sec. 2.14, eff. Sept. 1, 1997.