| TO: | Honorable John Whitmire, Chair, Committee of the Whole Senate |
| FROM: | John Keel, Director, Legislative Budget Board |
| IN RE: | HB5 by Grusendorf (Relating to public school finance, a state ad valorem tax, state general sales and use taxes, state taxes on the sale or use of a motor vehicle, and property tax relief for residential tenants. ), Committee Report 2nd House, Substituted |
The bill would make formula and/or structural changes to the Foundation School Program. The percent of equalized revenue in the system and percent of students in the equalized system during each of the first five years following passage is estimated as follows:
| Fiscal Year | Percent of Students in the Equalized System | Percent of Equalized Revenue |
|---|---|---|
| 2004 | 82.2 | 97.8 |
| 2005 | 100.0 | 98.0 |
| 2006 | 100.0 | 98.0 |
| 2007 | 100.0 | 98.0 |
| 2008 | 100.0 | 98.0 |
| Source Agencies: | |
| LBB Staff: | JK, SD, UP, RN
|