AUSTIN (March 27, 2013)--The Texas House Wednesday approved creation of a $2 billion state water fund that will be used to build new projects across the state.
State officials would use fund set up in House Bill 4 to leverage $27 billion over the next 50 years to build new reservoirs, improved pipelines and increase water conservation.
Texas was gripped by the state’s worst one-year drought in 2011 and has still not recovered.
Some cities have imposed water restrictions and experts say there is not enough water available for the state's fast-growing population.
State Rep. Alan Ritter, R-Nederland, authored the bill, which would essentially set up a revolving fund for water projects.
The money is expected to come from the state's $12 billion Rainy Day Fund.
The measure goes to the state Senate for further consideration.