By: Hochberg, et al. (Senate Sponsor - Shapiro) H.B. No. 828
         (In the Senate - Received from the House May 10, 2007;
  May 14, 2007, read first time and referred to Committee on
  Education; May 18, 2007, reported favorably by the following vote:  
  Yeas 6, Nays 0; May 18, 2007, sent to printer.)
 
 
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.
 
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