By Wentworth S.B. No. 1139 76R7103 KKA-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the taxable value of property of a school district that 1-3 does not offer each grade level from kindergarten to 12th grade. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Subchapter B, Chapter 42, Education Code, is 1-6 amended by adding Section 42.106 to read as follows: 1-7 Sec. 42.106. ADJUSTED PROPERTY VALUE FOR DISTRICTS NOT 1-8 OFFERING ALL GRADE LEVELS. For purposes of this chapter, the 1-9 taxable value of property of a school district that contracts for 1-10 students residing in the district to be educated in another 1-11 district under Section 25.039(a) is adjusted by applying the 1-12 formula: 1-13 ADPV = DPV - (TN/.015) 1-14 where: 1-15 "ADPV" is the district's adjusted taxable value of property; 1-16 "DPV" is the taxable value of property in the district for 1-17 the preceding tax year determined under Subchapter M, Chapter 403, 1-18 Government Code; and 1-19 "TN" is the total amount of tuition required to be paid by 1-20 the district under Section 25.038 for the school year for which the 1-21 adjustment is made. 1-22 SECTION 2. This Act takes effect September 1, 1999.