Amend CSHB 5 as follows:                                                     
	(1)  In SECTION 1.02 of the bill, in proposed Section 
41.008(c)(5), Education Code, strike "Chapter 46" and substitute 
"Chapter 46, including a specific amount to be appropriated to 
promote financing of facilities under Subchapter A, Chapter 46, in 
districts with low wealth per student".
	(2)  Amend ARTICLE 1 of the bill by adding the following 
appropriately numbered section and renumbering subsequent sections 
of the bill accordingly:
	SECTION ___.  Section 46.003, Education Code, is amended by 
amending Subsections (a) and (h) and adding Subsection (i) to read 
as follows:
	(a)  For each year, except as provided by Sections 46.005 and 
46.006, a school district is guaranteed a specified amount per 
student in state and local funds for each cent of tax effort, up to 
the maximum rate under Subsection (b), to pay the principal of and 
interest on eligible bonds issued to construct, acquire, renovate, 
or improve an instructional facility.  The total amount of state 
support provided each biennium must equal at least $150 million.
The amount of state support for a school district is determined by 
the formula:

FYA = (FYL X ADA X BTR X 100) - (BTR X (DPV/100))

where:                                                                        
	"FYA" is the guaranteed facilities yield amount of state 
funds allocated to the district for the year;
	"FYL" is the dollar amount guaranteed level of state and 
local funds per student per cent of tax effort, which is $35 or a 
greater amount for any year provided by appropriation;
	"ADA" is the greater of the number of students in average 
daily attendance, as determined under Section 42.005, in the 
district or 400;
	"BTR" is the district's bond tax rate for the current year, 
which is determined by dividing the amount budgeted by the district 
for payment of eligible bonds by the quotient of the district's 
taxable value of property as determined under Subchapter M, Chapter 
403, Government Code, or, if applicable, Section 42.2521, divided 
by 100;  and
	"DPV" is the district's taxable value of property as 
determined under Subchapter M, Chapter 403, Government Code, or, if 
applicable, Section 42.2521.
	(h)  To receive state assistance under this subchapter, a 
school district must apply to the commissioner in accordance with 
rules adopted by the commissioner before issuing bonds that will be 
paid with state assistance.  Until the bonds are fully paid, [or] 
the instructional facility is sold, or the  school district becomes 
eligible to receive assistance with payment of the bonds under 
Subchapter B:
		(1)  a school district is entitled to continue 
receiving state assistance under this subchapter without 
reapplying to the commissioner;  and
		(2)  the guaranteed level of state and local funds per 
student per cent of tax effort applicable to the bonds may not be 
reduced below the level provided for the year in which the bonds 
were issued.
	(i)  Notwithstanding any other provision of this chapter, 
the commissioner shall ensure that a school district that becomes 
eligible for state assistance under Subchapter B with payment of 
bonds for which the district initially received state assistance 
under this subchapter continues to receive state assistance under 
this subchapter as necessary to result in a total guaranteed level 
of state and local funds per student per cent of tax effort equal to 
the level provided under this subchapter for the year in which the 
bonds were issued.
	(3)  Strike SECTION 1.11 of the bill, amending Section 
46.033, Education Code, and substitute the following:
	SECTION 1.11.  Section 46.033, Education Code, is amended to 
read as follows:
	Sec. 46.033.  ELIGIBLE BONDS.  Bonds, including bonds issued 
under Section 45.006, are eligible to be paid with state and local 
funds under this subchapter if:
		(1)  the district made payments on the bonds during the 
final [2000-2001] school year of the state fiscal biennium 
preceding the biennium in which the district first receives 
assistance under this subchapter for the payment of principal of 
and interest on the bonds; or
		(2)  taxes levied to pay the principal of and interest 
on the bonds were included in the district's audited debt service 
collections for that school year[; and
		[(2)  the district does not receive state assistance 
under Subchapter A for payment of the principal and interest on the 
bonds].