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A BILL TO BE ENTITLED
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AN ACT
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relating to the reporting of income-producing contracts entered |
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into by school 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 44, Education Code, is |
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amended by adding Section 44.012 to read as follows: |
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Sec. 44.012. REPORT OF INCOME-PRODUCING CONTRACTS. (a) In |
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this section, "income-producing contract" means a contract under |
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which a school district is entitled to or expects to receive income, |
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including rentals, royalties, or a percentage of sales revenue. |
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(b) As provided by this section, a school district shall: |
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(1) publish a report of income-producing contracts in |
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a newspaper of general circulation in: |
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(A) a county in which the district is located; or |
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(B) the county seat of a county adjacent to a |
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county in which the district is located, if a newspaper of general |
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circulation is not published in a county in which the district is |
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located; or |
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(2) post a report of income-producing contracts on the |
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district's Internet website. |
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(c) For each income-producing contract a school district |
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enters into or under which the district receives income during the |
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reporting period covered by the publication or posting, the |
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district's report must include: |
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(1) the full name and address of each party to the |
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contract other than the district; |
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(2) a description of the type of contract involved; |
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(3) the date the contract was entered into; |
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(4) the duration of the contract; |
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(5) a statement of the amount of income the district |
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expects to receive under the contract; and |
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(6) a statement of the amount of income the district |
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received under the contract during the reporting period. |
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(d) A school district shall publish or shall post on the |
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district's Internet website a report of income-producing contracts |
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two times each year. For a district whose fiscal year begins July 1, |
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the first report shall be published or posted not later than August |
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15 and cover the period from the preceding January 1 through June |
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30, and the second report shall be published or posted not later |
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than February 15 and cover the period from the preceding July 1 |
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through December 31. For a district whose fiscal year begins |
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September 1, the first report shall be published or posted not later |
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than October 15 and cover the period from the preceding March 1 |
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through August 31, and the second report shall be published or |
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posted not later than April 15 and cover the period from the |
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preceding September 1 through the last day of February. |
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SECTION 2. A school district's first report of |
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income-producing contracts under Section 44.012, Education Code, |
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as added by this Act, must be published or must be posted on the |
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district's Internet website not later than October 15, 2007, or |
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February 15, 2008, depending on the date the district's fiscal year |
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begins. |
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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 September 1, 2007. |