January 7, 2021      10:30 AM
Texas water fund shows good returns in turbulent market
The state’s investment
fund that seeds regional water projects in the state – referred to as
SWIFT – made a fairly healthy rebound from
sharp dips in the stock market this year.
A joint panel of House and
Senate lawmakers – co-chaired by Sen. Charles Perry, R-Lubbock, and Rep.
Dade Phelan, R-Beaumont – closed out last year reviewing the progress of
the State Water Implementation Fund for Texas.
The fund, which incentivizes
regional water projects, is underwritten by $2 billion from the state’s Rainy Day Fund. A separate arm
issues low-interest bonds for those projects.
By Kimberly Reeves