TX SB718

Creates the Groundwater Science, Research, and Innovation Fund as a special fund in the state treasury to be administered by the Texas Water Development Board

Provides grants exclusively to groundwater conservation districts for programs and projects that improve understanding of local groundwater conditions, develop groundwater models, increase water conservation and efficiency, boost groundwater recharge, or protect groundwater quality

Requires at least 35% of fund disbursements go to smaller districts with populations of 100,000 or less and annual revenues of $250,000 or less

Authorizes the board to require grant recipients to provide matching funds of up to 25% of the grant amount, which may include direct expenditures or in-kind services

Districts receiving financial assistance must share all data, science, and research findings from funded projects with the Texas Water Development Board