The bill, H.B. No. 365, amends the Texas Water Code to increase the limit on financial assistance that the Texas Water Development Board can provide to political subdivisions from the economically distressed areas account. Specifically, it raises the cap on the amount of assistance that does not require repayment from 70 percent to 90 percent of the total principal amount of issued and unissued bonds authorized under Article III of the Texas Constitution, including outstanding interest on those bonds.

This change aims to enhance the financial support available for projects in economically distressed areas, thereby facilitating better access to necessary resources for local governments. The bill is set to take effect on September 1, 2025.

Statutes affected:
Introduced: Water Code 17.933 (Water Code 17)
House Committee Report: Water Code 17.933 (Water Code 17)
Engrossed: Water Code 17.933 (Water Code 17)