Bill > SJR75

This Joint Resolution proposes a constitutional amendment to create the Texas Water Fund, a dedicated fund outside of the state's general revenue, to help finance water projects across Texas. This fund will be managed by the Texas Water Development Board (TWDB), a state agency responsible for water planning and financial assistance for water-related projects. The legislature can appropriate money to this fund, and the fund can receive money from various sources including legislative appropriations, other dedicated state funds, investment earnings, gifts, grants, and donations. Importantly, at least 25% of the initial funds must be allocated to the New Water Supply for Texas Fund, which specifically supports the development of new water sources. The resolution also outlines that any unspent money in the fund at the end of a fiscal period will be carried over for use in the following period, and the expenses of managing the fund's investments will be paid from the fund itself. If approved by voters, this amendment will be placed on the ballot for the November 7, 2023 election.