HB 16 proposes changes to the oversight and financing of water infrastructure projects under the jurisdiction of the Texas Water Development Board. It seeks to amend sections of the Texas Water Code to expand the types of projects eligible for financial assistance, including desalination, aquifer storage and recovery, potable water reuse, and infrastructure for water transport. The bill also revises the allocation of funds from various state water accounts to support these projects. Additionally, it restructures the Texas Water Fund Advisory Committee, modifying its composition and responsibilities while increasing legislative oversight of water-related expenditures. It introduces a new water access assessment to evaluate water infrastructure needs statewide, particularly for rural and small municipalities, and requires regular reporting on water access conditions, system failures, and state-funded projects. The bill establishes a water access assessment account to finance these evaluations. Lastly, it stipulates that its provisions will only take effect if a constitutional amendment dedicating specific tax revenues to the Texas Water Fund is approved by voters.