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A BILL TO BE ENTITLED
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AN ACT
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relating to the equalization of property wealth in certain school |
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districts. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter A, Chapter 41, Education Code, is |
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amended by adding Section 41.0041 to read as follows: |
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Sec. 41.0041. EFFECT OF ADDITIONAL STATE AID FOR TAX |
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REDUCTION. (a) Notwithstanding any other provision of this |
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chapter, if a school district's wealth per student exceeds the |
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equalized wealth level for the first time in the 2006-2007 or a |
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later school year, the commissioner may consider the district to |
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have reduced its wealth per student to the equalized wealth level |
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for any school year as provided by this section. |
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(b) When the commissioner initially identifies a school |
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district under Section 41.004 as having a wealth per student for a |
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school year that exceeds the equalized wealth level, the |
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commissioner shall estimate: |
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(1) the amount of state revenue to which the district |
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is entitled under Section 42.2516 for that school year; and |
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(2) the cost to the district to purchase attendance |
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credits under Subchapter D in an amount sufficient to reduce the |
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district's wealth per student to the equalized wealth level for |
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that school year. |
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(c) If the commissioner determines that the amount |
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described by Subsection (b)(1) exceeds the amount described by |
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Subsection (b)(2) by more than 10 percent, the commissioner shall |
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notify the district of the commissioner's determination. In lieu of |
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exercising an option described by Section 41.003, the district's |
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board of trustees may authorize the commissioner to withhold from |
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the state revenue to which the district is entitled under Section |
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42.2516 an amount equal to the amount described by Subsection |
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(b)(2). |
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(d) In calculating the amount of state revenue to be |
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withheld from a school district under this section, the |
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commissioner shall calculate the cost for the district to reduce |
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the district's wealth per student to the equalized wealth level |
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using the final attendance and tax rate data for the school year and |
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shall award the district any available credit or discount under |
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Subchapter D as if the district had exercised the option under |
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Section 41.003(3) in a timely manner. If the final amount |
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calculated for the cost for the district to reduce the district's |
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wealth per student to the equalized wealth level for a school year |
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exceeds the amount of state revenue to which the district is |
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entitled under Section 42.2516 for that year: |
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(1) the commissioner shall withhold the entire amount |
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of state revenue to which the district is entitled under Section |
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42.2516 for that year; |
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(2) the commissioner may not withhold any other state |
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aid under this code to which the district is entitled for that year; |
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and |
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(3) the district is not required to take any further |
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action to reduce its wealth per student for that year. |
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(e) An action by the board of trustees of a school district |
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authorizing the commissioner to withhold state revenue from the |
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district under this section is valid without voter authorization. |
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SECTION 2. 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 September 1, 2007. |