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