Texas Lawmaker Requests $2B Fund To Pay For Water Projects

Law360, Houston (January 10, 2013, 8:27 PM EST) -- The chairman of the Texas House Natural Resources Committee on Thursday proposed a pair of bills authorizing the state — which is in the midst of a prolonged drought — to steer $2 billion toward financing projects necessary to meet future water needs.

Authored by Rep. Allan Ritter, R-Nederland, HB 4 and HB 11 would make a one-time allocation of $2 billion from the state's Economic Stabilization Fund — also known as the Rainy Day Fund — to capitalize a new, dedicated revolving fund for use...
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