By McCall H.B. No. 3269
77R9414 KKA-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the equalized wealth level under the public school
1-3 finance system.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 41.002(a), Education Code, is amended to
1-6 read as follows:
1-7 (a) A school district may not have a wealth per student that
1-8 exceeds $320,000 [$295,000].
1-9 SECTION 2. Section 42.302(a), Education Code, is amended to
1-10 read as follows:
1-11 (a) Each school district is guaranteed a specified amount
1-12 per weighted student in state and local funds for each cent of tax
1-13 effort over that required for the district's local fund assignment
1-14 up to the maximum level specified in this subchapter. The amount of
1-15 state support, subject only to the maximum amount under Section
1-16 42.303, is determined by the formula:
1-17 GYA = (GL X WADA X DTR X 100) - LR
1-18 where:
1-19 "GYA" is the guaranteed yield amount of state funds to be
1-20 allocated to the district;
1-21 "GL" is the dollar amount guaranteed level of state and local
1-22 funds per weighted student per cent of tax effort, which is $26.78
1-23 [$24.99] or a greater amount for any year provided by
1-24 appropriation;
2-1 "WADA" is the number of students in weighted average daily
2-2 attendance, which is calculated by dividing the sum of the school
2-3 district's allotments under Subchapters B and C, less any allotment
2-4 to the district for transportation, any allotment under Section
2-5 42.158, and 50 percent of the adjustment under Section 42.102, by
2-6 the basic allotment for the applicable year;
2-7 "DTR" is the district enrichment tax rate of the school
2-8 district, which is determined by subtracting the amounts specified
2-9 by Subsection (b) from the total amount of maintenance and
2-10 operations taxes collected by the school district for the
2-11 applicable school year and dividing the difference by the quotient
2-12 of the district's taxable value of property as determined under
2-13 Subchapter M, Chapter 403, Government Code, or, if applicable,
2-14 under Section 42.2521, divided by 100; and
2-15 "LR" is the local revenue, which is determined by multiplying
2-16 "DTR" by the quotient of the district's taxable value of property
2-17 as determined under Subchapter M, Chapter 403, Government Code, or,
2-18 if applicable, under Section 42.2521, divided by 100.
2-19 SECTION 3. This Act takes effect September 1, 2001.