Establishes the Central Texas Water Alliance, a regional water authority, with powers to issue bonds, impose fees, and manage water resources.

The bill creates the Central Texas Water Alliance, a regional water authority, to serve a public use and benefit. The alliance can issue bonds, notes, and other obligations to finance its operations, but it cannot impose ad valorem taxes. It can acquire, purchase, own, and maintain water and wastewater systems, reservoirs, and other water supply sources. The alliance can also develop water conservation and drought contingency plans. It can exercise eminent domain to acquire property necessary for its operations but not for groundwater or water rights.

Establishes the Central Texas Water Alliance, a regional water authority, with powers to issue bonds, impose fees, and manage water resources.

The bill creates the Central Texas Water Alliance, a regional water authority, to serve a public use and benefit. The alliance can issue bonds, notes, and other obligations to finance its operations, but it cannot impose ad valorem taxes. It can acquire, purchase, own, and maintain water and wastewater systems, reservoirs, and other water supply sources. The alliance can also develop water conservation and drought contingency plans. It can exercise eminent domain to acquire property necessary for its operations but not for groundwater or water rights.