By Shapiro                                      S.B. No. 1231

      75R7550 ESH-D                           

                                A BILL TO BE ENTITLED

 1-1                                   AN ACT

 1-2     relating to the equalized wealth level under the foundation school

 1-3     program.

 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

 1-5           SECTION 1.  Sections 41.002(e) and (f), Education Code, are

 1-6     amended to read as follows:

 1-7           (e)  Notwithstanding Subsection (a), for the [1996-1997 and]

 1-8     1997-1998, 1998-1999, and 1999-2000 school years, in  accordance

 1-9     with a determination of the commissioner, the wealth per student

1-10     that a school district may have after exercising an option under

1-11     Section 41.003(2) or (3) may not be less than the amount needed to

1-12     maintain state and local revenue in an amount equal to state and

1-13     local revenue per weighted student for maintenance and operation of

1-14     the district for the 1992-1993 school year less the district's

1-15     current year distribution per weighted student from the available

1-16     school fund, other than amounts distributed under Chapter 31, if

1-17     the district imposes an effective tax rate for maintenance and

1-18     operation of the district equal to the greater of the district's

1-19     current tax rate or $1.50 on the $100 valuation of taxable

1-20     property.  This subsection expires September 1, 2000 [1998].

1-21           (f)  For purposes of Subsection [Subsections (d) and] (e), a

1-22     school district's effective tax rate is determined by dividing  the

1-23     total amount of taxes collected by the district for the applicable

1-24     school year by the quotient of the district's taxable value of

 2-1     property, as determined under Subchapter M, Chapter 403, Government

 2-2     Code, divided by 100.  This subsection expires September 1, 2000

 2-3     [1998].

 2-4           SECTION 2.  This Act takes effect September 1, 1997.

 2-5           SECTION 3.  The importance of this legislation and the

 2-6     crowded condition of the calendars in both houses create an

 2-7     emergency and an imperative public necessity that the

 2-8     constitutional rule requiring bills to be read on three several

 2-9     days in each house be suspended, and this rule is hereby suspended.