By Solis H.B. No. 934
77R975 KKA-F
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to eligibility of school districts for state assistance
1-3 with payment of existing debt.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 46.033, Education Code, is amended to
1-6 read as follows:
1-7 Sec. 46.033. ELIGIBLE BONDS. Bonds, including bonds issued
1-8 under Section 45.006, are eligible to be paid with state and local
1-9 funds under this subchapter if:
1-10 (1) the district made payments on the bonds during the
1-11 1998-1999 school year or taxes levied to pay the principal of and
1-12 interest on the bonds were included in the district's audited debt
1-13 service collections for that [the 1998-1999] school year; and
1-14 (2) the district does not receive state assistance
1-15 under Subchapter A for payment of the principal and interest on the
1-16 bonds.
1-17 SECTION 2. This Act takes effect September 1, 2001.