By Uher H.B. No. 1032 75R4647 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. Subchapter A, Chapter 41, Education Code, is 1-6 amended by adding Section 41.014 to read as follows: 1-7 Sec. 41.014. REDUCTION FOR SOCIAL SECURITY TAXES. (a) A 1-8 school district that participates in the Social Security system may 1-9 reduce the amount paid to the commissioner under Subchapter D or to 1-10 another school district under Subchapter E by an amount equivalent 1-11 to the taxes paid by the district under 26 U.S.C. Section 3111(a) 1-12 in the preceding calendar year. 1-13 (b) A school district shall report the payment of those 1-14 taxes in the time and manner prescribed by rule of the 1-15 commissioner. 1-16 SECTION 2. Section 42.252, Education Code, is amended by 1-17 adding Subsection (f) to read as follows: 1-18 (f) The local share of a school district that participates 1-19 in the Social Security system is reduced by an amount equivalent to 1-20 the taxes paid by the district under 26 U.S.C. Section 3111(a) in 1-21 the preceding calendar year. A school district shall report the 1-22 payment of those taxes in the time and manner prescribed by rule of 1-23 the commissioner. This subsection does not apply to a district 1-24 that has a wealth per student, as defined by Section 41.001, that 2-1 exceeds the equalized wealth level under Section 41.002. 2-2 SECTION 3. This Act applies beginning with the 1997-1998 2-3 school year. 2-4 SECTION 4. The importance of this legislation and the 2-5 crowded condition of the calendars in both houses create an 2-6 emergency and an imperative public necessity that the 2-7 constitutional rule requiring bills to be read on three several 2-8 days in each house be suspended, and this rule is hereby suspended, 2-9 and that this Act take effect and be in force from and after its 2-10 passage, and it is so enacted.