AUSTIN (AP) – Texas lawmakers are expected to begin public hearings on a proposed $2 billion fund to finance water projects across the state.
The House Natural Resources Committee will hear testimony on Tuesday about using money from the Rainy Day Fund to create a water development bank.
The State Water Development Board says Texans need to spend $53 billion over the next 50 years to make sure the state has enough water for a growing population. Committee Chairman Alan Ritter has proposed a $2 billion revolving fund that he says can finance those needs.
Texas has one of the fastest growing populations in the country, and a recent drought has demonstrated the state’s vulnerability.
The proposal is known as the State Water Infrastructure Fund for Texas, or SWIFT.
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