80R4254 JRD-D
 
  By: Ogden S.B. No. 2
 
 
 
   
 
 
A BILL TO BE ENTITLED
AN ACT
relating to making appropriations to the Texas Education Agency for
the purpose of school district property tax rate reductions.
       BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
       SECTION 1.  (a)  In addition to other amounts appropriated
for the Foundation School Program for all or part of the state
fiscal biennium ending August 31, 2009, the following amounts are
appropriated to the Texas Education Agency under the Foundation
School Program for the purpose of funding school district property
tax rate reductions in accordance with Section 42.2516, Education
Code:
             (1)  for the state fiscal year ending August 31, 2008:
                   (A)  all amounts in the property tax relief fund
(an estimated amount of $4,231,466,000) are appropriated for this
purpose; and
                   (B)  if the amounts available from the property
tax relief fund for that fiscal year are less than $6,956,400,000,
the additional amount necessary for the total appropriation under
this subdivision to equal $6,956,400,000 (an estimated amount of
$2,724,934,000) is appropriated from the foundation school fund for
this purpose; and
             (2)  for the state fiscal year ending August 31, 2009:
                   (A)  all amounts in the property tax relief fund
(an estimated amount of $3,846,492,000) are appropriated for this
purpose; and
                   (B)  if the amounts available from the property
tax relief fund for that fiscal year are less than $7,234,700,000,
the additional amount necessary for the total appropriation under
this subdivision to equal $7,234,700,000 (an estimated amount of
$3,388,208,000) is appropriated from the foundation school fund for
this purpose.
       (b)  In addition to the amounts appropriated under
Subsection (a)(2) of this section, any unexpended balance of the
amount appropriated for the state fiscal year ending August 31,
2008, under Subsection (a)(1) of this section is appropriated to
the Texas Education Agency for the purpose described by Subsection
(a) of this section for the state fiscal year ending August 31,
2009.
       (c)  In the event there are insufficient amounts in the
property tax relief fund and the foundation school fund to fund the
entire appropriation under Subsection (a)(1) of this section for
the state fiscal year ending August 31, 2008, the commissioner of
education may, with the prior approval of the governor and the
Legislative Budget Board, transfer amounts appropriated under
Subsection (a)(2) of this section for the state fiscal year ending
August 31, 2009, in an amount not to exceed the amount necessary to
cover the shortfall, and spend the transferred amounts for the
purpose described by Subsection (a) of this section during the
state fiscal year ending August 31, 2008.  The comptroller shall:
             (1)  transfer money from the general revenue fund or
other available sources into the foundation school fund as
necessary to accomplish an approved transfer of appropriations
between fiscal years under this subsection; and
             (2)  reduce the amount that may be appropriated under
Subsection (a)(2) of this section from the foundation school fund
accordingly.
       SECTION 2.  This Act takes effect September 1, 2007.