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.