$2B Bill For New Water Projects Stalls In Texas House

Law360, New York (May 1, 2013, 5:08 PM EDT) -- The Texas House of Representatives failed Tuesday to pass a budget bill that would funnel $2 billion into a new infrastructure bank for several water-supply projects aimed at relieving the state's drought issues.

After a series of controversial amendments to the bill were bandied about, the House floor returned H.B. 11 to the Committee on Appropriations. As originally proposed, the bill would take a one-time withdrawal from the state's Economic Stabilization Fund, which is also known as its “rainy day fund,” to jump-start more than $50...
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