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Relating to the funding of utility reliability and resiliency projects by the Texas Water Development Board; authorizing the issuance of revenue bonds.
The fiscal implications of the bill cannot be determined because the amount and timing of any appropriations, transfers, earnings, and bond proceeds associated with implementing the provisions of the bill are unknown.
HB 2000 creates the state utilities reliability fund (SURF) and the state utilities reliability revenue fund (SURRF) . These funds are intended to serve as a utility infrastructure bank in order to enhance the financing capabilities of power generation companies, water, electricity, natural gas and broadband utilities under a constitutionally created program and a revenue bond program. Money in the fund will be available immediately to provide support for market-rate loans, low-interest loans, longer repayment terms for loans, and deferral of loan payments. The purpose of the fund is to enhance the reliability of energy providers, water, electricity, natural gas and broadband utilities with a focus on increasing weatherization and generation capacity. This fund will be managed by the Texas Water Development board.
Texas Action is opposed to HB 2000 which represents a significant growth in government and would violate our limited government and free market principles.