1-1 By: Sadler (Senate Sponsor - Bivins) H.B. No. 2879
1-2 (In the Senate - Received from the House May 7, 2001;
1-3 May 7, 2001, read first time and referred to Committee on
1-4 Education; May 11, 2001, reported adversely, with favorable
1-5 Committee Substitute by the following vote: Yeas 6, Nays 0;
1-6 May 11, 2001, sent to printer.)
1-7 COMMITTEE SUBSTITUTE FOR H.B. No. 2879 By: Bivins
1-8 A BILL TO BE ENTITLED
1-9 AN ACT
1-10 relating to public school finance.
1-11 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-12 SECTION 1. Effective September 1, 2001, Section 41.002(a),
1-13 Education Code, is amended to read as follows:
1-14 (a) A school district may not have a wealth per student that
1-15 exceeds $300,000 [$295,000].
1-16 SECTION 2. Effective September 1, 2002, Section 41.002(a),
1-17 Education Code, is amended to read as follows:
1-18 (a) A school district may not have a wealth per student that
1-19 exceeds $305,000 [$295,000].
1-20 SECTION 3. Section 42.005(b), Education Code, is amended to
1-21 read as follows:
1-22 (b) A school district that experiences a decline of two
1-23 percent or more in average daily attendance shall be funded on the
1-24 basis of:
1-25 (1) the actual average daily attendance of the
1-26 preceding school year, if the decline is the [as a] result of the
1-27 closing or reduction in personnel of a military base; or
1-28 (2) to the extent that funds are specifically
1-29 appropriated for purposes of this subdivision, an average daily
1-30 attendance equal to 98 percent of the actual average daily
1-31 attendance of the preceding school year, if the decline is not the
1-32 result of the closing or reduction in personnel of a military base
1-33 [shall be funded on the basis of the actual average daily
1-34 attendance of the preceding school year].
1-35 SECTION 4. Section 46.033, Education Code, is amended to
1-36 read as follows:
1-37 Sec. 46.033. ELIGIBLE BONDS. Bonds, including bonds issued
1-38 under Section 45.006, are eligible to be paid with state and local
1-39 funds under this subchapter if:
1-40 (1) taxes levied to pay the principal of and interest
1-41 on the bonds were included in the district's audited debt service
1-42 collections for the 2000-2001 [1998-1999] school year; and
1-43 (2) the district does not receive state assistance
1-44 under Subchapter A for payment of the principal and interest on the
1-45 bonds.
1-46 SECTION 5. Section 46.034(a), Education Code, is amended to
1-47 read as follows:
1-48 (a) The existing debt tax rate ("EDTR") under Section 46.032
1-49 may not exceed $0.29 [$0.12] per $100 of valuation, or a greater
1-50 amount for any year provided by appropriation.
1-51 SECTION 6. Except as otherwise provided by this Act, this
1-52 Act takes effect September 1, 2001.
1-53 * * * * *