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Oct 21

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State Revolving Loan Funds and Proposition 2

“The Clean Water State Revolving Fund (CWSRF) and Drinking Water Revolving Fund Programs are federal/state partnerships designed to finance the cost of infrastructure needed to achieve compliance with the Clean Water Act.  Through the state revolving funds, the states maintain the revolving loan funds to provide low-cost financing for a wide range of water quality infrastructure projects, such as traditional municipal wastewater treatment and colllection systems, nonpoint source program implementation projects, wetland restoration, groundwater protection, innovative stormwater runoff and estuary management projects, drinking water treatment and conveyance systems, and source water protection.  Funds to establish or capitalize the SRF programs are provided through EPA grants to the states, along with state matching fundds (equal to 20 percent of federal government grants).  Under the American Recovery and Reinvestment Act stimulus funding, in FY 2010, 20 percent of the federal funds must be targeted to green infrastructure, water-efficiency improvements, energy-efficiency improvement, and environmentally innovative approaches to water quality improvement.”

This all came out of the Leveraging the Partnerships:  DOT, HUD, and EPA Programs.

Proposition 2 essentially establishes a revolving fund and if I may quote an analysis by WeTexans “This proposal would create a revolving line of credit to the Texas Water Development Board.  This line of credit would be secured by the Texas taxpayer.  Government debt should be taken very seriously and approved on an as needed basis by the voters at the time of the need.  To establish a revolving line of debt for an appointed state board and saddle Texans in perpetuity with that debt is unjust.”

I don’t believe that is a coincidence that proposition 2 is in place and I would be curious to know if in fact we as taxpayers are going to be forced with this revolving account to invest 20 percent of our dollars into green infrastructure!

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