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SB 2140 would authorize the financial assistance the Texas Water Development Board currently allocates to supply and sewer services in economically distressed areas to also apply to residential drainage services in those areas. In addition, this bill would require the board to maximize the effectiveness of issued bonds by using additional (including nonpublic) supplementary bonds and to support viable public-private partnerships that will reduce reliance on bonds supported with general revenue.
The board would be required to create procedures to prioritize projects that receive financial assistance based on impact, local financial capacity, presence of an emergency need, and the readiness of a project proposal. Annual reports regarding projects that received assistance would be published on the board's public website including details regarding the projects, number of individuals served, amount of financial assistance provided, and completion.