78R8936 ESH-F
By: Madden H.B. No. 2635
A BILL TO BE ENTITLED
AN ACT
relating to the cost of education adjustment for a school district
that participates in the social security system.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 42.102, Education Code, is amended by
adding Subsections (c) and (d) to read as follows:
(c) The amount of 0.062 is added to the adjustment provided
by Subsection (b) for a school district that:
(1) pays taxes under Section 3111(a), Internal Revenue
Code of 1986, and its subsequent amendments;
(2) covered all district employees under the federal
social security retirement program before January 1, 2003;
(3) for the 2002 tax year, levied a maintenance and
operations tax at a rate of $1.50 for each $100 valuation of taxable
value of property; and
(4) for the 2003 and 2004 tax years, levies a
maintenance and operations tax at a rate of $1.50 for each $100
valuation of taxable value of property.
(d) The commissioner may adopt rules as necessary for the
implementation of Subsection (c).
SECTION 2. This Act takes effect September 1, 2003.