H.B. No. 68 mandates a comprehensive study by the Texas Water Development Board, in collaboration with various state and federal agencies, to assess the costs associated with developing flood infrastructure in Texas. The bill defines key terms such as "artificial drainage system," "high-cost drainage zone," and outlines the study's objectives, which include identifying high-cost drainage zones, analyzing cost drivers for flood infrastructure, and developing a cost heat map. The study will also evaluate various flood mitigation strategies, project future costs, and provide recommendations for effective flood management and funding mechanisms.

The board is required to submit a written report of its findings and recommendations to the legislature by December 1, 2026, and to make this report publicly accessible on its website. The bill includes a provision for expiration on April 1, 2027, and will take effect 91 days after the conclusion of the legislative session.