1-1     By:  Bivins                                           S.B. No. 1766
 1-2           (In the Senate - Filed March 19, 2001; March 20, 2001, read
 1-3     first time and referred to Committee on Education; March 29, 2001,
 1-4     reported favorably by the following vote:  Yeas 6, Nays 0;
 1-5     March 29, 2001, sent to printer.)
 1-6                            A BILL TO BE ENTITLED
 1-7                                   AN ACT
 1-8     relating to the eligibility of school district bonds for payment
 1-9     with state and local funds under the existing debt tier of the
1-10     school finance system.
1-11           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-12           SECTION 1.  Section 46.033, Education Code, is amended to
1-13     read as follows:
1-14           Sec. 46.033.  ELIGIBLE BONDS.  Bonds, including bonds issued
1-15     under Section 45.006, are eligible to be paid with state and local
1-16     funds under this subchapter if:
1-17                 (1)  taxes levied to pay the principal of and interest
1-18     on the bonds were included in the district's audited debt service
1-19     collections for the 2000-2001 [1998-1999] school year; and
1-20                 (2)  the district does not receive state assistance
1-21     under Subchapter A for payment of the principal and interest on the
1-22     bonds.
1-23           SECTION 2.  This Act takes effect September 1, 2001.
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