By Patterson S.B. No. 429 74R1807 ESH-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the inclusion of Social Security taxes paid by a school 1-3 district in funding formulas under the foundation school program. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Section 16.252, Education Code, is amended by 1-6 adding Subsections (f) and (g) to read as follows: 1-7 (f) Except as provided by Subsection (g), the local share of 1-8 a school district that participates in the Social Security system 1-9 is reduced by an amount equivalent to the quotient of the taxes 1-10 paid by the district under 26 U.S.C. Section 3111(a) in the 1-11 preceding calendar year divided by the district's average daily 1-12 attendance for the preceding school year. A school district shall 1-13 report the payment of those taxes in the time and manner prescribed 1-14 by rule of the commissioner of education. 1-15 (g) Subsection (f) does not apply to a district that has a 1-16 wealth per student, as defined by Section 36.001, that exceeds the 1-17 equalized wealth level under Section 36.002. 1-18 SECTION 2. Subchapter A, Chapter 36, Education Code, is 1-19 amended by adding Section 36.012 to read as follows: 1-20 Sec. 36.012. REDUCTION FOR SOCIAL SECURITY TAXES. (a) A 1-21 school district that participates in the Social Security system may 1-22 reduce the amount paid to the commissioner of education under 1-23 Subchapter D or to another school district under Subchapter E by an 1-24 amount equivalent to the taxes paid by the district under 26 U.S.C. 2-1 Section 3111(a) in the preceding calendar year. 2-2 (b) A school district shall report the payment of those 2-3 taxes in the time and manner prescribed by rule of the commissioner 2-4 of education. 2-5 SECTION 3. This Act applies beginning with the 1995-1996 2-6 school year. 2-7 SECTION 4. The importance of this legislation and the 2-8 crowded condition of the calendars in both houses create an 2-9 emergency and an imperative public necessity that the 2-10 constitutional rule requiring bills to be read on three several 2-11 days in each house be suspended, and this rule is hereby suspended, 2-12 and that this Act take effect and be in force from and after its 2-13 passage, and it is so enacted.