78R5620 BDH-F
By: Nelson S.B. No. 639
A BILL TO BE ENTITLED
AN ACT
relating to public school district eligibility for state assistance
under the existing debt allotment.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. 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
school year that began in the second year of the preceding state
fiscal biennium [2000-2001 school year] or 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.
SECTION 2. This Act takes effect September 1, 2003.