Texas Water Code
§ 15.603 — CREATION AND ADMINISTRATION OF PROGRAM
WA § 15.603Title 2. WATER ADMINISTRATION · Part C. WATER DEVELOPMENT · Ch. 15. TEXAS WATER ASSISTANCE PROGRAM · Art. J. FINANCIAL ASSISTANCE FOR WATER POLLUTION CONTROL
Statute text
View on source(a)The revolving fund is held separately from other funds by the board outside the State Treasury to provide financial assistance to persons for projects eligible for assistance under the federal act, including projects eligible under Section 603(c) of the federal act (33 U.S.C. Section 1383(c)), and to provide linked deposits to eligible lending institutions for loans to persons for nonpoint source pollution control projects.
(b)The board may execute agreements with the Environmental Protection Agency or any other federal agency to establish and administer the revolving fund and may discharge the duties and responsibilities required for the administration of the revolving fund.
(c)The revolving fund consists of money derived from federal grants, direct appropriations, investment earnings on amounts credited to the revolving fund, and, at the board's discretion, from any and all sources available.
(d)The revolving fund shall remain available in perpetuity for providing financial assistance in accordance with the federal act.
(e)All payments of principal and interest and all proceeds from the sale, refunding, or prepayment of bonds of political subdivisions acquired in carrying out the purposes of the revolving fund shall be deposited in the revolving fund.
(f)The board shall administer the revolving fund in the manner provided by the federal act, state law, and the rules of the board.
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Legislative history
Acts 2019, 86th Leg., R.S., Ch. 428 (S.B. 942), Sec. 2, eff. September 1, 2019. Acts 2019, 86th Leg., R.S., Ch. 428 (S.B. 942), Sec. 5, eff. September 1, 2019.