Assembly Bill 790 establishes a new nonlapsible trust fund called the "water fund for our future," which will receive a one-time transfer of $250 million from the general fund. The bill creates the Joint Committee for the Oversight of the Water Fund for Our Future, consisting of members from both the majority and minority parties in the legislature, as well as representatives from the Department of Health Services and the Department of Natural Resources. This committee will oversee expenditures from the fund, recommend transfers to a rapid response account for natural disasters and public health emergencies, and ensure that funds are used exclusively for clean water-related activities.

Additionally, the bill allows state agencies to request supplemental funding from the water fund, with the Joint Committee on Finance required to consider recommendations from the oversight committee. It also includes provisions for the Department of Natural Resources and the Department of Justice to seek reimbursement for expenditures made from the fund. Notably, the bill amends existing statutes to allow for the transfer of unencumbered balances from the water fund to the budget stabilization fund and specifies that any awarded moneys from legal actions related to the water fund must be deposited back into that fund.

Statutes affected:
Bill Text: 25.60, 299.97(2), 299.97