H.B. No. 2626 establishes the Central Texas Water Alliance, a regional water authority aimed at improving water supply and management in Central Texas. The bill introduces Chapter 11020 to the Special District Local Laws Code, detailing the authority's governance structure, operational framework, and the process for adding or removing sponsors. Key provisions include the authority to issue bonds, exercise eminent domain, and impose fees, while also establishing a board of directors with specific eligibility criteria and voting rights. The alliance is designed to serve a public purpose, ensuring that all land and property within its territory benefits from its initiatives.

Significant amendments in the bill include the prohibition of the alliance from exercising the power of eminent domain, which marks a notable change in its operational capabilities. The bill also outlines the appointment process for initial directors, requiring appointments within 30 to 90 days after the bill's effective date, with terms determined by a lottery system. Additionally, it clarifies that the alliance is not required to hold elections for issuing revenue bonds and allows it to demonstrate financial viability through accumulated funds and professional revenue projections. The bill is set to take effect immediately upon a two-thirds vote or on September 1, 2025, if that threshold is not met.

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