SRC-MWN S.B. 724 77(R) BILL ANALYSIS Senate Research Center S.B. 724 77R4621 KKA-FBy: Wentworth Education 2/28/2001 As Filed DIGEST AND PURPOSE Currently, some school districts do not assess taxes on January 1 values until June of the following year. As a result, those districts are considered to tax in arrears. As proposed, S.B. 724 defines the collection period to be used for state funding purposes. 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. Amends Section 42.302, Education Code, by adding Subsection (d), to provide that for purposes of this section, the total amount of maintenance and operations taxes collected for an applicable school year by a school district with alternate tax dates, as authorized by Section 26.135 (Tax Dates for Certain School Districts), Tax Code, is the amount of taxes collected on or after January 1 of the year in which the school year begins and not later than December 31 of the same year. SECTION 2. Effective date: September 1, 2001. Provides that the determination of the amount to which a school district is entitled under Section 42.302 (Allotment), Education Code, as amended by this Act, begins with the 2001-2002 school year.