88R26838 JAM-D     By: Perry, et al. S.J.R. No. 75     (King of Uvalde)     Substitute the following for S.J.R. No. 75:  No.       A JOINT RESOLUTION   proposing a constitutional amendment creating the Texas water fund   to assist in financing water projects in this state.          BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Article III, Texas Constitution, is amended by   adding Section 49-d-16 to read as follows:          Sec. 49-d-16.  (a)  The Texas water fund is created as a   special fund in the state treasury outside the general revenue   fund.  The fund is administered by the Texas Water Development Board   or by that board's successor in function as provided by general law.          (b)  The administrator of the Texas water fund may use the   fund only to transfer money to other funds or accounts administered   by the Texas Water Development Board or that board's successor in   function. The administrator may restore to the fund money   transferred from the fund and deposited to the credit of another   fund or account.  Legislative appropriation is not required for the   administrator to transfer money from or restore money to the fund.          (c)  The Texas water fund consists of:                (1)  money transferred or deposited to the credit of   the fund by general law, including money appropriated by the   legislature directly to the fund and money from any source   transferred or deposited to the credit of the fund authorized by   general law;                (2)  any other revenue that the legislature by statute   dedicates for deposit to the credit of the fund;                (3)  investment earnings and interest earned on amounts   credited to the fund;                (4)  money from gifts, grants, or donations to the   fund; and                (5)  money returned from any authorized transfer.          (d)  The legislature by general law shall provide for the   manner in which money from the Texas water fund may be used, subject   to the limitations provided by this section.          (e)  The legislature by general law may provide for costs of   investment of the Texas water fund to be paid from that fund.          (f)  For purposes of Section 22, Article VIII, of this   constitution:                (1)  money in the Texas water fund is dedicated by this   constitution; and                (2)  an appropriation of state tax revenues for the   purpose of depositing money to the credit of the Texas water fund is   treated as if it were an appropriation of revenues dedicated by this   constitution.          (g)  On January 1, 2024, the comptroller of public accounts   shall transfer $3 billion of the unencumbered balance of the   general revenue fund that exists on that date to the Texas water   fund. This subsection expires December 31, 2024.          SECTION 2.  This proposed constitutional amendment shall be   submitted to the voters at an election to be held November 7, 2023.     The ballot shall be printed to permit voting for or against the   proposition: "The constitutional amendment creating the Texas   water fund to assist in financing water projects in this state."