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Texans have elected to put billions of tax dollars toward a state water fund.
HJR 7 allocates the first $1 billion of sales tax revenue for each fiscal year to the state water fund, after collections exceed $46.5 billion.
The allocation will last from 2027 to 2047, making a 20-year investment of $20 billion in total.
Ballot language:
“The constitutional amendment to dedicate a portion of the revenue derived from state sales and use taxes to the Texas water fund and to provide for the allocation and use of that revenue.”
The Source: Information in this report came from Texas Legislature Online.