SRC-MKV S.B. 20 77(R)   BILL ANALYSIS


Senate Research Center   S.B. 20
77R741 ESH-DBy: Shapiro
Education
2/26/2001
As Filed


DIGEST AND PURPOSE 

Currently, under the omnibus finance law, one-half of the optional
homestead fund exemption is allowed to be subtracted from the market value
of a residence when calculating taxable wealth and the commissioner of
education has the discretion to decide whether or not to fund this
provision.  S.B. 20 permanently funds the optional homestead provision,
thus ensuring that taxpayers continue to benefit from this provision as it
was originally intended. 

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to a
state officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1.   Repealer: Section 42.2522 (Adjustment for Optional Homestead
Exemption),  
  Education Code.

           Repealer: Section 403.302(j) (Determination of School District
Property Values),  Government Code. 

SECTION 2.  Amends Section 46.034(d), Education Code, to authorize the
commissioner of education, to the extent funds are available under Chapter
42 or this chapter in excess of the amount to which school districts are
entitled for a school year, to provide assistance to a school district that
would be entitled to the assistance except for the limit on the existing
debt tax rate under Subsection (a).  Makes a conforming change. 

SECTION 3.  Effective date: September 1, 2001.