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A BILL TO BE ENTITLED
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AN ACT
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relating to the eligibility of bonds used for the payment of certain |
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school facilities. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 46.033, Education Code, is amended to |
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read as follows: |
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Sec. 46.033. ELIGIBLE BONDS. Bonds, including bonds |
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issued under Section 45.006, are eligible to be paid with state and |
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local funds under this subchapter if: |
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(1) the district made payments on the bonds during the |
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2006-2007 [2004-2005] school year or taxes levied to pay the |
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principal of and interest on the bonds were included in the |
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district's audited debt service collections for that school year; |
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and |
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(2) the district does not receive state assistance |
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under Subchapter A for payment of the principal and interest on the |
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bonds. |
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SECTION 2. This section takes effect September 1, 2007. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect on the 91st day after the last day of the |
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legislative session. |