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79R8182 BDH-D

By:  Kolkhorst                                                    H.B. No. 3082



A BILL TO BE ENTITLED

AN ACT

relating to the eligibility of school district bonds 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 the district does not receive state 
assistance under Subchapter A for payment of the principal and 
interest on the bonds, and:
		(1)  the proceeds of the bonds were used to construct, 
acquire, renovate, or improve an instructional facility, as defined 
by Section 46.001, and the district made payments on the bonds 
during the 2004-2005 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; 
or
		(2)  the district made payments on the bonds during the 
2002-2003 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.  Section 46.034(c), Education Code, is amended to 
read as follows:
	(c)  If the amount required to pay the principal of and 
interest on eligible bonds in a school year is less than the amount 
of payments made by the district on the bonds during the final
[2002-2003] school year of the state fiscal biennium preceding the 
biennium in which the district first receives assistance under this 
subchapter for the payment of principal of and interest on the bonds
or the district's audited debt service collections for that school 
year, the district may not receive aid in excess of the amount that, 
when added to the district's local revenue for the school year, 
equals the amount required to pay the principal of and interest on 
the bonds.
	SECTION 3.  This Act takes effect September 1, 2005.