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

Copyright January 07, 2021, Harvey Kronberg, www.quorumreport.com, All rights are reserved