Rainy Day Fund

Ryan Poppe / TPR News

Lawmakers in the Texas Senate wasted no time passing a bill to fund the future of Texas’ water needs, passing Senate Bill 4 by unanimous vote within the stretch of just a few hours. 

Sen. Troy Fraser, R-Horseshoe Bay, authored the bill that sets up the structure of awarding 500 water projects over the next 50 years.  

Ryan Poppe / TPR News

Texas Senate Committee on Finance gave their approval for tapping into the state’s so-called Rainy Day Fund to pay for future water and transportation needs.

Sen. Tommy Williams, R-The Woodlands, authored the bill that doesn’t include any of the money going to education.

As the state legislature prepares to open its session Tuesday, lawmakers are hearing a word not spoken in the capitol for a long time. It’s ‘surplus.’ Unlike two years ago, when they faced a massive deficit and cut $15 billion from the budget, there’s talk of an increase in money for state programs and a growing Rainy Day fund. The state comptroller will release the official budget estimate this morning, but the debate over whether and how to spend the Rainy Day money has already begun.