H.B. No. 286 mandates the Texas Water Development Board (the "Board") to conduct a comprehensive study and report on flooding risks and potential solutions in the upper Guadalupe River basin. The Board will collaborate with the Upper Guadalupe River Authority, Kerr County, and the City of Kerrville to assess the risk to life and property due to flooding, evaluate possible mitigation strategies, and propose up to eight projects aimed at reducing these risks. The study will involve collecting and analyzing existing data, updating it with information from a significant weather event, and developing hydraulic models for local waterways.

The bill outlines specific tasks for the Board, including identifying flood mitigation projects, assessing their costs and benefits, and engaging with the community for feedback. At least half of the proposed projects must originate from local entities. The Board is required to submit a report to the legislature by January 1, 2029, detailing the findings of the study and the recommended projects. The Act will expire on January 1, 2030, and will take effect 91 days after the legislative session concludes.