HBA-JLV H.J.R. 81 77(R) BILL ANALYSIS Office of House Bill AnalysisH.J.R. 81 By: Counts Financial Institutions 3/25/2001 Introduced 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. FOR ELECTION This proposed constitutional amendment shall be submitted to the voters at an election to be held November 6, 2001.