Section 15.504 - Use Of Fund(a) The board by resolution may make transfers from the fund to a fund or account described by Section 15.502(b) for an authorized purpose of the receiving fund or account. (b) The board may not transfer money to a fund or account described by Section 15.502(b) until the application for the project for which the money is to be used has been approved. (c) The board shall ensure that a portion of the money transferred from the fund is used for: (1) water infrastructure projects, prioritized by risk or need, for: (A) rural political subdivisions; and (B) municipalities with a population of less than 150,000; (2) projects for which all required state or federal permitting has been substantially completed, as determined by the board; (3) the statewide water public awareness program established under Section 16.026; (4) water conservation strategies; and (5) water loss mitigation projects. (d) Money transferred from the fund for the purposes described by Subsection (c) may be transferred to funds or accounts described by Section 15.502(b) to be used to provide financial assistance for any purpose described by Subsection (c) under criteria developed by the board and in accordance with law. (e) Money deposited to the credit of the fund as provided by Section 15.154(d) may be used only for the purposes described by Section 15.153(b). (f) The board may use the fund to pay the necessary and reasonable expenses of the board in administering the fund not to exceed two percent. 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).