H.B. No. 1904
 
 
 
 
AN ACT
  relating to the use of the water infrastructure fund.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 15.974(a), Water Code, is amended to
  read as follows:
         (a)  The board may use the fund:
               (1)  to make loans to political subdivisions at or
  below market interest rates for projects;
               (2)  to make grants, low-interest loans, or zero
  interest loans to political subdivisions for projects to serve
  areas outside metropolitan statistical areas in order to ensure
  that the projects are implemented, or for projects to serve
  economically distressed areas;
               (3)  to make loans at or below market interest rates for
  planning and design costs, permitting costs, and other costs
  associated with state or federal regulatory activities with respect
  to a project;
               (4)  as a source of revenue or security for the payment
  of principal and interest on bonds issued by the board if the
  proceeds of the sale of the bonds will be deposited in the fund;
  [and]
               (5)  to make transfers from the fund to the financial
  assistance account of the Texas Water Development Fund II created
  under Section 17.959 for the purposes described in Section 49-d-8,
  Article III, Texas Constitution, other than for the purposes
  described in Sections 17.957 and 17.958; and
               (6)  to pay the necessary and reasonable expenses of
  the board in administering the fund.
         SECTION 2.  Section 17.9616(b), Water Code, is amended to
  read as follows:
         (b)  The board shall use the water infrastructure fund as a
  source of revenue to be deposited in accordance with this
  subchapter for the payment of principal and interest on water
  financial assistance bonds issued by the board, the proceeds of
  which are to be deposited into the water infrastructure fund and to
  be used to make payments under a bond enhancement agreement with
  respect to principal or interest on the water financial assistance
  bonds or for any other purpose authorized by Section 17.959(c).
         SECTION 3.  This Act takes effect September 1, 2021.
 
 
  ______________________________ ______________________________
     President of the Senate Speaker of the House     
 
 
         I certify that H.B. No. 1904 was passed by the House on April
  16, 2021, by the following vote:  Yeas 141, Nays 4, 2 present, not
  voting.
 
  ______________________________
  Chief Clerk of the House   
 
 
         I certify that H.B. No. 1904 was passed by the Senate on May
  19, 2021, by the following vote:  Yeas 31, Nays 0.
 
  ______________________________
  Secretary of the Senate    
  APPROVED:  _____________________
                     Date          
   
            _____________________
                   Governor