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A BILL TO BE ENTITLED
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AN ACT
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relating to making appropriations to the Texas Education Agency for |
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the purpose of school district property tax rate reductions. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. (a) In addition to other amounts appropriated |
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for the Foundation School Program for all or part of the state |
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fiscal biennium ending August 31, 2009, the following amounts are |
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appropriated to the Texas Education Agency under the Foundation |
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School Program for the purpose of funding school district property |
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tax rate reductions in accordance with Section 42.2516, Education |
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Code: |
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(1) for the state fiscal year ending August 31, 2008: |
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(A) all amounts in the property tax relief fund |
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(an estimated amount of $4,231,466,000) are appropriated for this |
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purpose; and |
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(B) if the amounts available from the property |
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tax relief fund for that fiscal year are less than $6,956,400,000, |
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the additional amount necessary for the total appropriation under |
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this subdivision to equal $6,956,400,000 (an estimated amount of |
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$2,724,934,000) is appropriated from the foundation school fund for |
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this purpose; and |
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(2) for the state fiscal year ending August 31, 2009: |
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(A) all amounts in the property tax relief fund |
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(an estimated amount of $3,846,492,000) are appropriated for this |
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purpose; and |
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(B) if the amounts available from the property |
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tax relief fund for that fiscal year are less than $7,234,700,000, |
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the additional amount necessary for the total appropriation under |
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this subdivision to equal $7,234,700,000 (an estimated amount of |
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$3,388,208,000) is appropriated from the foundation school fund for |
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this purpose. |
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(b) In addition to the amounts appropriated under |
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Subsection (a)(2) of this section, any unexpended balance of the |
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amount appropriated for the state fiscal year ending August 31, |
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2008, under Subsection (a)(1) of this section is appropriated to |
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the Texas Education Agency for the purpose described by Subsection |
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(a) of this section for the state fiscal year ending August 31, |
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2009. |
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(c) In the event there are insufficient amounts in the |
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property tax relief fund and the foundation school fund to fund the |
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entire appropriation under Subsection (a)(1) of this section for |
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the state fiscal year ending August 31, 2008, the commissioner of |
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education may, with the prior approval of the governor and the |
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Legislative Budget Board, transfer amounts appropriated under |
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Subsection (a)(2) of this section for the state fiscal year ending |
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August 31, 2009, in an amount not to exceed the amount necessary to |
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cover the shortfall, and spend the transferred amounts for the |
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purpose described by Subsection (a) of this section during the |
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state fiscal year ending August 31, 2008. The comptroller shall: |
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(1) transfer money from the general revenue fund or |
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other available sources into the foundation school fund as |
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necessary to accomplish an approved transfer of appropriations |
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between fiscal years under this subsection; and |
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(2) reduce the amount that may be appropriated under |
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Subsection (a)(2) of this section from the foundation school fund |
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accordingly. |
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SECTION 2. This Act takes effect September 1, 2007. |