TX SJR66

Dedicates state sales and use tax revenue exceeding $46.5 billion annually to the Texas water fund, capped at $500 million per fiscal year, beginning September 1, 2027

Dedicates the first $500 million of annual insurance premium tax revenue to the Texas water fund

Requires at least 80% of deposited funds before September 1, 2043 to be allocated to the New Water Supply for Texas Fund, with at least 25% of initially appropriated funds also directed there

Allows the legislature to reduce deposits by up to 50% through a two-thirds vote resolution, applicable for up to three fiscal years

Sets the deposit requirement to expire August 31, 2043, with the legislature able to extend it in 10-year increments by majority vote; requires voter approval at an election on November 4, 2025