|
|
|
A BILL TO BE ENTITLED
|
|
AN ACT
|
|
relating to the amount of the guaranteed yield under the Foundation |
|
School Program. |
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
SECTION 1. Section 42.302(a-1), Education Code, is amended |
|
to read as follows: |
|
(a-1) In this section, "wealth per student" has the meaning |
|
assigned by Section 41.001. For purposes of Subsection (a), the |
|
dollar amount guaranteed level of state and local funds per |
|
weighted student per cent of tax effort ("GL") for a school district |
|
is: |
|
(1) the amount of district tax revenue per weighted |
|
student per cent of tax effort available to a district at the 88th |
|
percentile in wealth per student, as determined by the commissioner |
|
in cooperation with the Legislative Budget Board, for the |
|
district's maintenance and operations tax effort equal to or less |
|
than the rate equal to the product of the state compression |
|
percentage, as determined under Section 42.2516, multiplied by the |
|
maintenance and operations tax rate adopted by the district for the |
|
2005 tax year; |
|
(2) the greater of the amount of district tax revenue |
|
per weighted student per cent of tax effort available to the Austin |
|
Independent School District, as determined by the commissioner in |
|
cooperation with the Legislative Budget Board, or the amount of |
|
district tax revenue per weighted student per cent of tax effort |
|
used for purposes of this subdivision in the preceding school year, |
|
for the first six cents by which the district's maintenance and |
|
operations tax rate exceeds the rate equal to the product of the |
|
state compression percentage, as determined under Section 42.2516 |
|
[and notwithstanding the limitation on district enrichment tax rate
|
|
("DTR") under Section 42.303], multiplied by the maintenance and |
|
operations tax rate adopted by the district for the 2005 tax year; |
|
and |
|
(3) $31.95, for the district's maintenance and |
|
operations tax effort that exceeds the amount of tax effort |
|
described by Subdivision (2). |
|
SECTION 2. This Act takes effect September 1, 2007. |