By Johnson                                            H.B. No. 2869
       74R7833 ESH-D
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the computation of a school district's property values
    1-3  for school funding purposes.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Section 16.302, Education Code, is amended to
    1-6  read as follows:
    1-7        Sec. 16.302.  Allotment.  Each school district is guaranteed
    1-8  a specified amount per weighted student in state and local funds
    1-9  for each cent of tax effort over that required for the district's
   1-10  local fund assignment up to the maximum level specified in this
   1-11  subchapter.  The amount of state support, subject only to the
   1-12  maximum amount under Section 16.303 of this code, is determined by
   1-13  the formula:
   1-14  where:
   1-15        "GYA" is the guaranteed yield amount of state funds to be
   1-16  allocated to the district;
   1-17        "GL" is the dollar amount guaranteed level of state and local
   1-18  funds per weighted student per cent of tax effort, which is $20.55
   1-19  or a greater amount for any year provided by appropriation, or a
   1-20  greater amount adopted by the foundation school fund budget
   1-21  committee under Section 16.256(d);
   1-22        "WADA"<, except as provided by Section 16.206 of this code,>
   1-23  is the number of weighted students in average daily attendance,
   1-24  which is calculated by dividing the sum of the school district's
    2-1  allotments under Subchapters C and D of this chapter, less any
    2-2  allotments to the district for transportation, teacher
    2-3  compensation, or technology and 50 percent of the adjustment under
    2-4  Section 16.102 of this code, by the basic allotment for the
    2-5  applicable year;
    2-6        "DTR" is the district enrichment and facilities tax rate of
    2-7  the school district, which is determined by subtracting the
    2-8  district's local fund assignment from the total amount of taxes
    2-9  collected by the school district for the applicable school year and
   2-10  dividing the difference by the quotient of the district's taxable
   2-11  value of property as determined under Section 16.252 <11.86> of
   2-12  this code divided by 100; and
   2-13        "LR" is the local revenue, which is determined by multiplying
   2-14  "DTR" by the quotient of the district's taxable value of property
   2-15  as determined under Section 16.252 <11.86> of this code divided by
   2-16  100.
   2-17        SECTION 2.  This Act applies beginning with the 1995-1996
   2-18  school year.
   2-19        SECTION 3.  The importance of this legislation and the
   2-20  crowded condition of the calendars in both houses create an
   2-21  emergency and an imperative public necessity that the
   2-22  constitutional rule requiring bills to be read on three several
   2-23  days in each house be suspended, and this rule is hereby suspended,
   2-24  and that this Act take effect and be in force from and after its
   2-25  passage, and it is so enacted.