| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to the allocation and deposit of certain surplus state |
|
|
revenue to the property tax relief fund for use in reducing school |
|
|
district maintenance and operations ad valorem taxes. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 403.109, Government Code, is amended by |
|
|
adding Subsections (e) and (f) to read as follows: |
|
|
(e) Not later than the 90th day after the last day of each |
|
|
state fiscal biennium, the comptroller shall deposit to the credit |
|
|
of the fund general revenue in an amount equal to one-half of the |
|
|
amount by which the total available general revenue for that |
|
|
biennium at the end of the biennium exceeds the amount of total |
|
|
available general revenue stated in the comptroller's biennial |
|
|
revenue estimate for that biennium. |
|
|
(f) Notwithstanding any other provision of this section, |
|
|
money deposited to the credit of the fund under Subsection (e) may |
|
|
be appropriated only to the Texas Education Agency for use in |
|
|
providing property tax relief through reduction of the state |
|
|
compression percentage, as defined by Section 48.255, Education |
|
|
Code. |
|
|
SECTION 2. This Act applies beginning with the state fiscal |
|
|
biennium beginning September 1, 2023. |
|
|
SECTION 3. This Act takes effect on the 91st day after the |
|
|
last day of the legislative session. |