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78R8191 KKA-D

By:  Branch                                                       H.B. No. 2497



A BILL TO BE ENTITLED

AN ACT

relating to the cost of an attendance credit under the public school 
finance system for certain school districts.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 41.093(b), Education Code, is amended to 
read as follows:
	(b)  For purposes of this section, a school district's 
maintenance and operations tax revenue does not include:
		(1)  for a school district with a maintenance and 
operations tax rate of at least $1.50 on January 1, 2003, any 
maintenance and operations tax revenue in excess of the amount of 
maintenance and operations tax revenue collected by the district 
during the 2002-2003 school year; or
		(2)  any amounts paid into a tax increment fund under 
Chapter 311, Tax Code.
	SECTION 2.  Section 41.097(a), Education Code, is amended to 
read as follows:
	(a)  The total amount required under Section 41.093 for a 
district to purchase attendance credits under this subchapter for 
any school year is reduced by an amount equal to the product of the 
district's costs under Section 6.06, Tax Code, for the central 
appraisal district in which it participates multiplied by a 
percentage that is computed by dividing the total amount required 
under Section 41.093 by the total amount of taxes imposed in the 
district for that year less:
		(1)  for a school district with a maintenance and 
operations tax rate of at least $1.50 on January 1, 2003, any 
maintenance and operations tax revenue in excess of the amount of 
maintenance and operations tax revenue collected by the district 
during the 2002-2003 school year; and
		(2)  any amounts paid into a tax increment fund under 
Chapter 311, Tax Code.
	SECTION 3.  Sections 41.093 and 41.097, Education Code, as 
amended by this Act, apply only to an agreement to purchase 
attendance credits under Subchapter D, Chapter 41, Education Code, 
for the 2003-2004 or a later school year.
	SECTION 4.  This Act takes effect immediately if it receives 
a vote of two-thirds of all the members elected to each house, as 
provided by Section 39, Article III, Texas Constitution.  If this 
Act does not receive the vote necessary for immediate effect, this 
Act takes effect September 1, 2003.