By Shapiro                                             S.B. No. 719
       74R5038 ESH-D
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the limit on school district tax rates.
    1-3        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-4        SECTION 1.  Sections 20.09(a) and (c), Education Code, are
    1-5  amended to read as follows:
    1-6        (a)  A <Except as provided by Subsections (c) and (d) and
    1-7  unless specifically approved in an election called for that
    1-8  purpose, a> school district may not impose a maintenance <total>
    1-9  tax rate on the $100 valuation of taxable property that exceeds an
   1-10  effective tax rate of $1.50.
   1-11        (c)  In this section, "effective tax rate" means the rate
   1-12  determined by dividing the total amount of maintenance taxes
   1-13  collected by a school district by the quotient of the district's
   1-14  taxable value of property as determined under Section 11.86 divided
   1-15  by 100.  <The portion of the total tax rate required to collect the
   1-16  taxes pledged and levied for the payment of principal and interest
   1-17  on debt authorized to be issued by an election held on or before
   1-18  April 1, 1991, and issued before September 1, 1992, is not subject
   1-19  to the tax limitation under Subsection (a) of this section.>
   1-20        SECTION 2.  Section 20.09(d), Education Code, is repealed.
   1-21        SECTION 3.  This Act takes effect September 1, 1995.
   1-22        SECTION 4.  The importance of this legislation and the
   1-23  crowded condition of the calendars in both houses create an
   1-24  emergency and an imperative public necessity that the
    2-1  constitutional rule requiring bills to be read on three several
    2-2  days in each house be suspended, and this rule is hereby suspended.