(a) The Texas water fund is a special fund in the state treasury outside the general revenue fund. The fund is administered by the board. (b) The board may use the fund only to transfer money to: (1) the water assistance fund established under Subchapter B; (2) the new water supply for Texas fund established under Subchapter C-1; (3) the state water implementation fund for Texas established under Subchapter G; (4) the state water implementation revenue fund for Texas established under Subchapter H; (5) a revolving fund established under Subchapter J; (6) the rural water assistance fund established under Subchapter R; (7) the statewide water public awareness account established under Section 16.027; (8) the Texas Water Development Fund II water financial assistance account established under Section 17.959; and (9) the Texas Water Development Fund II state participation account established under Section 17.957. (c) Money and investments in the fund shall be kept and held for and in the name of the board. (d) Money in the fund may be used only as provided by this subchapter. (e) The fund consists of: (1) money transferred or deposited to the credit of the fund by law, including money appropriated by the legislature directly to the fund and money from any source transferred or deposited to the credit of the fund as authorized by law; (2) any other revenue that the legislature by statute dedicates for deposit to the credit of the fund; (3) investment earnings and interest earned on amounts credited to the fund; (4) money from gifts, grants, or donations to the fund; and (5) money returned from any authorized transfer. Added by Acts 2023, Texas Acts of the 88th Leg.- Regular Session, ch. 457,Sec. 6, eff. January 1, 2024, but only if the constitutional amendment proposed by the 88th Legislature, Regular Session, 2023, creating the Texas water fund to assist in financing water projects in this state is approved by the voters. If that constitutional amendment is not approved by the voters, Section 6 of this Act has no effect. (Acts 2023, Texas Acts of the 88th Leg.- Regular Session, ch. SJR 75was approved by the voters November 7, 2023).