Amend CSHB 4 in Article 1 of the bill by adding the following
new sections, appropriately numbered, and renumbering the
subsequent sections accordingly:
      SECTION 1._____.  Section 41.003, Education Code, is amended
to read as follows:
      Sec. 41.003.  OPTIONS TO ACHIEVE EQUALIZED WEALTH LEVEL.  A
district with a wealth per student that exceeds the equalized
wealth level may take any combination of the following actions to
achieve the equalized wealth level:
            (1)  consolidation with another district as provided by
Subchapter B;
            (2)  detachment of territory as provided by Subchapter
C;
            (3)  purchase of average daily attendance credit as
provided by Subchapter D;
            (4)  contracting for the education of nonresident
students as provided by Subchapter E; <or>
            (5)  tax base consolidation with another district as
provided by Subchapter F; or
            (6)  granting an exemption of a portion of the market
value of taxable property, including property that is not a
residence, located in the district as provided by Subchapter F-1.
      SECTION 1._____.  Chapter 41, Education Code, is amended by
adding Subchapter F-1 to read as follows:
   SUBCHAPTER F-1.  EXEMPTION TO ACHIEVE EQUALIZED WEALTH LEVEL
      Sec. 41.181.  EXEMPTION TO ACHIEVE EQUALIZED WEALTH LEVEL.  A
school district with a wealth per student that exceeds the
equalized wealth level may grant an exemption of a portion of the
market value of taxable property, including property that is not a
residence, located in the district in compliance with Sections
1-b(g) and (h), Article VIII, Texas Constitution, to reduce the
district's wealth per student to a level that is less than or equal
to the equalized wealth level.