By Reyna of Bexar H.B. No. 2704 Line and page numbers may not match official copy. Bill not drafted by TLC or Senate E&E. A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the cost of education adjustment for a school district 1-3 that participates in the social security retirement program. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Section 42.102, Chapter 42, Education Code, is 1-6 amended to read as follows: 1-7 (a) The basic allotment for each district is adjusted to 1-8 reflect the geographic variation in known resource costs and costs 1-9 of education due to factors beyond the control of the school 1-10 district. 1-11 (b) The cost of education adjustment is the cost of 1-12 education index adjustment adopted by the foundation school fund 1-13 budget committee and contained in Chapter 203, Title 19, Texas 1-14 Administrative Code, as that chapter existed on March 26, 1997. 1-15 (c) The amount of .062 is added to the adjustment provided 1-16 for under Subsection (b) for any school district that pays taxes 1-17 under 26 U.S.C. Section 3111(a), and its subsequent amendments, for 1-18 employees covered by the Social Security retirement program, if the 1-19 district currently covers all employees prior to January 1, 2001. 1-20 (d) The commissioner may adopt rules necessary for the 1-21 implementation of this section. 1-22 SECTION 2. EFFECTIVE DATE. This Act takes effects 2-1 immediately if it receives a vote of two-thirds of all the members 2-2 elected to each house, as provided by Section 39, Article III, 2-3 Texas Constitution. If this Act does not receive the vote 2-4 necessary for immediate effect, this Act takes effect September 1, 2-5 2001.