By Bivins S.B. No. 1766
77R2692 ESH-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the eligibility of school district bonds for payment
1-3 with state and local funds under the existing debt tier of the
1-4 school finance system.
1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-6 SECTION 1. Section 46.033, Education Code, is amended to read
1-7 as follows:
1-8 Sec. 46.033. ELIGIBLE BONDS. Bonds, including bonds issued
1-9 under Section 45.006, are eligible to be paid with state and local
1-10 funds under this subchapter if:
1-11 (1) taxes levied to pay the principal of and interest
1-12 on the bonds were included in the district's audited debt service
1-13 collections for the 2000-2001 [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.