10 | GLENN HEGAR, TEXAS COMPTROLLER OF PUBLIC ACCOUNTS Building Strong Infrastructure for a Growing Texas “Broadband infrastructure is the interstate highway system of this century, while a strong transportation network and reliable water resources are crucial to our citizens’ well-being.” - Glenn Hegar WATER INFRASTRUCTURE – FILLING IN THE GAPS To address the crucial need for water for Texas’ growing population, lawmakers proposed creating the Texas Water Fund to be administered by the Texas Water Development Board. The Board would be authorized to transfer funds between the state Water Fund and the Water Assistance Fund No. 480, the New Water Supply for Texas Fund, the Rural Water Assistance Fund No. 301 or the Statewide Water Public Awareness Account. The state budget allocates $1 billion to the Texas Water Fund, subject to voter approval in November. POWERING TEXAS The 88th Legislature once again sought to improve the reliability of Texas’ independent power grid through several measures that seek to encourage new generation and increase reserves during emergencies. If Texas voters approve a constitutional amendment in November, a new Texas Energy Fund would encourage dispatchable generation projects through low-interest loans and grants. The budget allocates $5 billion toward the fund, which would be administered through the Public Utility Commission of Texas (PUC) and invested by the Texas Treasury Safekeeping Trust Company. The fund would provide 3 percent, 20-year loans to cover 60 percent of total project costs for upgrades to existing generation facilities and help finance new construction for at least 100-megawatt capacity. It also would provide bonus grants to new dispatchable generation built before certain deadlines. The measure also aims to reduce the grid’s vulnerability by allowing the PUC to award up to $1.8 billion in loans and grants called Texas Backup Power Packages to encourage power reserves that would provide 48 hours of generation to critical facilities like schools, hospitals, nursing homes and community centers. Another law passed this session will shift some transmission infrastructure costs for wind and solar back to the generation companies, along with other measures aimed at cost control. BUILDING A SOLID FOUNDATION The condition of Texas’ infrastructure will remain under the microscope as investment strengthens the framework that supports Texas’ robust economic activity. “Broadband infrastructure is the interstate highway system of this century, while a strong transportation network and reliable water resources are crucial to our citizens’ well-being,” says Hegar. “We welcome our state’s economic growth, and that means we must ensure we invest in the essentials for businesses and individuals to continue to flourish.” FN Learn more about the state’s energy infrastructure with the Good for Texas Tour: Energy Edition at comptroller.texas.gov/economy/ economic-data/energy. Get updates from the Broadband Development Office at BroadbandForTexas.com. VOTERS WILL DECIDE THREE INFRASTRUCTURE-RELATED AMENDMENTS THIS NOVEMBER See the full list of constitutional amendments on the Nov. 7 ballot at VoteTexas.gov. Water: Proposition 6 The constitutional amendment creating the Texas Water Fund to assist in financing water projects in this state. Energy: Proposition 7 The constitutional amendment providing for the creation of the Texas Energy Fund to support the construction, maintenance, modernization and operation of electric generating facilities. Broadband: Proposition 8 The constitutional amendment creating the Broadband Infrastructure Fund to expand high-speed broadband access and assist in the financing of connectivity projects. 39 DEALERS’ CHOICE
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