Facing a growing population and a stagnant water supply, Texas voters overwhelmingly approved a plan Tuesday that will authorize $2 billion in state funding to finance 50 years worth of water infrastructure projects. The move doesn’t exactly amount to new money to fund water projects, but it isn’t a new tax either. The $2 billion will be used to offer favorable financing terms for public agencies pursuing projects designed to conserve or reuse water, or create new taps of reservoirs designed to expand the water supply. The money will be paid back as part of a revolving loan fund.

Print Friendly