By Shapiro                                              S.B. No. 36
         76R1262 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 [1997-1998,
 1-8     1998-1999, and] 1999-2000, 2000-2001, and 2001-2002 school years,
 1-9     in accordance with a determination of the commissioner, the wealth
1-10     per student that a school district may have after exercising an
1-11     option under Section 41.003(2) or (3) may not be less than the
1-12     amount needed to maintain state and local revenue in an amount
1-13     equal to state and local revenue per weighted student for
1-14     maintenance and operation of the district for the 1992-1993 school
1-15     year less the district's current year distribution per weighted
1-16     student from the available school fund, other than amounts
1-17     distributed under Chapter 31, if the district imposes an effective
1-18     tax rate for maintenance and operation of the district equal to the
1-19     greater of the district's current tax rate or $1.50 on the $100
1-20     valuation of taxable property.  This subsection expires September
1-21     1, 2002 [2000].
1-22           (f)  For purposes of Subsection (e), a school district's
1-23     effective tax rate is determined by dividing the total amount of
1-24     taxes collected by the district for the applicable school year less
 2-1     any amounts paid into a tax increment fund under Chapter 311, Tax
 2-2     Code, by the quotient of the district's taxable value of property,
 2-3     as determined under Subchapter M, Chapter 403, Government Code,
 2-4     divided by 100.  This subsection expires September 1, 2002 [2000].
 2-5           SECTION 2.  This Act takes effect September 1, 1999.
 2-6                   SECTION 3.  The importance of this legislation and
 2-7     the crowded condition of the calendars in both houses create an
 2-8     emergency and an imperative public necessity that the
 2-9     constitutional rule requiring bills to be read on three several
2-10     days in each house be suspended, and this rule is hereby suspended.