Amendment would start new fund with 'rainy day' money
Two billion dollars. That’s how much money needs to be spent on water projects in Texas, according to the State Legislature. But lawmakers did not include that two billion in the biennial budget. Instead, they suggested that the money come from state’s Economic Stabilization Fund, commonly known as the Rainy Day Fund.
That money isn’t supposed to spent unless there’s a crisis. But the state is suffering from a multi-year drought. Combine that with urban development and agricultural use putting a strain on the state’s existing water resources, and some say that the water situation in Texas is worth a dip into the piggy bank.
Texas voters will have the final say on that. The measure will be on ballots this November. For a closer look at the legislation itself, KETR spoke with Jeremy Mazur of the Texas Water Development Board.