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Amend HB 2 (Senate committee printing) by adding the
following appropriately numbered new SECTION after existing
SECTION 1 of the bill and renumbering the other existing SECTION of
the bill accordingly:
SECTION _____. In addition to the amounts appropriated by
Section 1 of this Act, if on August 1, 2008, the amount of franchise
tax revenue received during the state fiscal year ending August 31,
2008, as of August 1 exceeds $5,884,262,000, then an amount equal to
the amount by which franchise tax revenue received as of August 1
exceeds $5,884,262,000, but not to exceed the lesser of the amount
of unappropriated general revenue available for certification on
that date or $1.25 billion, is appropriated out of the general
revenue fund to the Texas Education Agency for the state fiscal year
ending August 31, 2008, under the Foundation School Program for the
purpose of funding school district property tax rate reductions for
the 2008 tax year in accordance with Section 42.2516, Education
Code. Any unexpended balance of that amount is appropriated to the
Texas Education Agency for that purpose for the state fiscal year
ending August 31, 2009.