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


Office of House Bill AnalysisC.S.H.J.R. 81
By: Counts
Financial Institutions
4/2/2001
Committee Report (Substituted)



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, C.S.H.J.R. 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

C.S.H.J.R. 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 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

This proposed constitutional amendment shall be submitted to the voters at
an election to be held November 6, 2001. 

COMPARISON OF ORIGINAL TO SUBSTITUTE

C.S.H.J.R. 81 modifies the original to provide that a limitation on the
percentage of state participation in any single project does not apply to a
project funded with the proceeds of bonds.