Bill > SJR66

This joint resolution proposes a constitutional amendment to dedicate a portion of state sales and use taxes and insurance premium taxes to the Texas Water Fund, a dedicated fund for water infrastructure and development. Specifically, the resolution mandates that the comptroller deposit to the Texas Water Fund any state sales and use tax revenue exceeding $46.5 billion (up to $500 million annually) and the first $500 million of insurance premium tax revenue. The funds will be allocated with at least 25% of initially appropriated money and 80% of tax-derived money going to the New Water Supply for Texas Fund until August 31, 2043. The legislature can temporarily reduce these deposits by a two-thirds vote, and can extend the tax dedication beyond 2043 through a majority vote. The amendment includes a temporary provision specifying that the new section will take effect September 1, 2027, and will be submitted to voters for approval in a November 4, 2025 election, with the ballot asking voters whether they support dedicating these tax revenues to the Texas Water Fund.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=SJR66