Must read web-briefing from the Texas Public Policy Foundation:
While the question of funding is important, it cannot be the sole focus. There remain significant regulatory impediments that are preventing full development of Texas’ water resources. Until these problems are addressed, the state will never be able to guarantee that needed projects will actually be developed.
The process of buying or selling a water right can be abureaucratic morass. A water right owner who merely wants to change the use to which his water is put may face a long administrative process, which discourages many new projects.
Prop 6 deals with none of these problems, instead relying on the premise that more state funding is the answer. But when localities are not fully utilizing available state or private funding, that premise is open to question.
Read the whole thing here.