| |
| |
|
|
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) The comptroller shall: |
|
|
(1) allocate for deposit to the credit of the fund |
|
|
general revenue in an amount equal to 90 percent of the amount by |
|
|
which the amount of general revenue received in a state fiscal |
|
|
biennium exceeds 104 percent of the total amount of general revenue |
|
|
that was received during the preceding state fiscal biennium; and |
|
|
(2) periodically deposit to the credit of the fund the |
|
|
general revenue allocated under Subdivision (1), with the final |
|
|
deposit for that biennium to be made not later than the 90th day of |
|
|
the next state fiscal 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, 2025. |
|
|
SECTION 3. This Act takes effect September 1, 2023. |