79S30802 JRD-D
By: Keffer of Dallas H.B. No. 98
A BILL TO BE ENTITLED
AN ACT
relating to the use of current and future state budget surpluses to
reduce local school district property tax rates; making an
appropriation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. (a) The amount of $6.15 billion is appropriated
out of the general revenue fund to the credit of the available
school fund for the state fiscal biennium ending August 31, 2007,
and that same amount is appropriated out of the available school
fund to the Texas Education Agency for the state fiscal biennium
ending August 31, 2007, for the purpose of reducing local school
district maintenance and operations tax rates in accordance with
Subsection (b).
(b) The Texas Education Agency, as soon as possible after
the effective date of this Act, shall develop and adopt a plan for
the distribution of the money appropriated by Subsection (a). The
commissioner may expend and distribute the money only:
(1) in accordance with a final plan for the
distribution of the money; and
(2) with the prior approval of the Legislative Budget
Board and the governor.
SECTION 2. Subchapter A, Chapter 42, Education Code, is
amended by adding Section 42.008 to read as follows:
Sec. 42.008. USE OF STATE BUDGET SURPLUSES FOR SCHOOL
DISTRICT PROPERTY TAX RELIEF. (a) Not later than the 90th day of
each state fiscal biennium, the comptroller shall determine the
amount of the unencumbered positive balance of general revenues on
the last day of the preceding biennium. On making that
determination, the comptroller shall transfer one-half of the
amount determined into a separate fund in the state treasury known
as the school district property tax relief fund. For purposes of
this subsection, general revenues are considered encumbered on the
last day of a state fiscal biennium only to the extent that general
revenues are subject to payment for particular identifiable and
legally enforceable obligations of this state that were incurred on
or before that day.
(b) Money in the school district property tax relief fund
may be used only for the purpose of reducing local school district
maintenance and operations tax rates in the manner provided by this
section.
(c) The school district property tax relief fund is exempt
from the application of Sections 403.095 and 404.071, Government
Code. Interest and income from the deposit and investment of money
in the fund are allocated to the fund monthly.
(d) In any state fiscal biennium, the commissioner of
education may expend and distribute money appropriated from the
school district property tax relief fund only:
(1) in accordance with a final plan for the
distribution of the money; and
(2) with the prior approval of the Legislative Budget
Board and the governor.
(e) Not later than the 90th day of each state fiscal
biennium, the commissioner of education shall prepare and adopt a
plan for the distribution of the money appropriated to the Texas
Education Agency from the school district property tax relief fund
for that biennium and send the proposed plan to the governor and the
Legislative Budget Board for review and comment.
SECTION 3. 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 on the 91st day after the last day of the
legislative session.