Proposition will start state’s first flood fund
After garnering the approval of voters, Texas has been given the go-ahead to create the state’s first flooding infrastructure fund.
The fund is being established with a one-time injection of $793 million in funding from the state’s Economic Stabilization Fund—more commonly known as the Rainy Day Fund—after voters approved Proposition 8 on Nov. 5.
However, state lawmakers can choose to add more money to the fund in the future, officials said.
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