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(a) The Texas water fund is created as a | |||
special fund in the state treasury outside the general revenue | |||
fund. The fund is administered by the Texas Water Development Board | |||
or by that board ’s successor in function as provided by general law. | |||
The legislature may appropriate money for the purpose of depositing | |||
the money to the fund to be available for transfer as provided by | |||
Subsection (b) of this section. | |||
(b)AAThe administrator of the Texas water fund may use the | |||
fund only to transfer money to other funds or accounts administered | |||
by the Texas Water Development Board or that board ’s successor in | |||
function. Money transferred from the Texas water fund to a fund or | |||
account may be spent without further legislative appropriation in | |||
the manner provided by general law governing the use of money in the | |||
fund or account to which the money was transferred. The | |||
administrator may restore to the fund money transferred from the | |||
fund and deposited to the credit of another fund or account. | |||
Legislative appropriation is not required for the administrator to | |||
transfer money from or restore money to the fund, including the | |||
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transfer of money from the fund to or the restoration of the money | |||
from: | |||
(1)AAthe Water Assistance Fund No.A480; | |||
(2)AAthe New Water Supply for Texas Fund; | |||
(3)AAthe Rural Water Assistance Fund No.A301; or | |||
(4)AAthe Statewide Water Public Awareness Account. | |||
(c)AAThe Texas water fund consists of: | |||
(1)AAmoney transferred or deposited to the credit of | |||
the fund by general 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 authorized by | |||
general law; | |||
(2)AAany other revenue that the legislature by statute | |||
dedicates for deposit to the credit of the fund; | |||
(3)AAinvestment earnings and interest earned on amounts | |||
credited to the fund; | |||
(4)AAmoney from gifts, grants, or donations to the | |||
fund; and | |||
(5)AAmoney returned from any authorized transfer. | |||
(d)AAThe legislature by general law shall provide for the | |||
manner in which money from the Texas water fund may be used, subject | |||
to the limitations provided by this section. | |||
(e)AAOf the amount of money initially appropriated to the | |||
Texas water fund, the administrator of the fund shall allocate not | |||
less than 25 percent to be used only for transfer to the New Water | |||
Supply for Texas Fund. | |||
(f)AAThe expenses of managing the investments of the Texas | |||
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S.J.R.ANo.A75 | |||
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water fund shall be paid from that fund. | |||
(g)AAFor purposes of Section 22, Article VIII, of this | |||
constitution: | |||
(1)AAmoney in the Texas water fund is dedicated by this | |||
constitution; and | |||
(2)AAan appropriation of state tax revenues for the | |||
purpose of depositing money to the credit of the Texas water fund is | |||
treated as if it were an appropriation of revenues dedicated by this | |||
constitution. | |||
(h)AAAny unexpended and unobligated balance remaining in the | |||
Texas water fund at the end of a state fiscal biennium is | |||
appropriated to the administrator of that fund for the following | |||
state fiscal biennium for the purposes authorized by this section. | |||
SECTIONA2.AAThis proposed constitutional amendment shall be | |||
submitted to the voters at an election to be held |