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A BILL TO BE ENTITLED
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AN ACT
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relating to the equalized wealth level and the guaranteed yield |
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under the school finance system. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 41.002(a), Education Code, is amended to |
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read as follows: |
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(a) A school district may not have a wealth per student that |
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exceeds: |
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(1) the wealth per student that generates the amount |
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of maintenance and operations tax revenue per weighted student |
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available to a district at the 88th percentile in wealth per |
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student, for the district's maintenance and operations tax effort |
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equal to or less than the rate equal to the product of the state |
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compression percentage, as determined under Section 42.2516, |
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multiplied by the maintenance and operations tax rate adopted by |
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the district for the 2005 tax year; |
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(2) the wealth per student that generates the amount |
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of maintenance and operations tax revenue per weighted student |
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available to the Austin Independent School District, as determined |
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by the commissioner in cooperation with the Legislative Budget |
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Board, for the first six cents by which the district's maintenance |
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and operations tax rate exceeds the rate equal to the product of the |
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state compression percentage, as determined under Section 42.2516, |
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multiplied by the maintenance and operations tax rate adopted by |
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the district for the 2005 tax year, subject to Section 41.093(b-1); |
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or |
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(3) the wealth per student specified by Subdivision |
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(1) [$319,500], for the district's maintenance and operations tax |
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effort that exceeds the first six cents by which the district's |
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maintenance and operations tax effort exceeds the rate equal to the |
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product of the state compression percentage, as determined under |
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Section 42.2516, multiplied by the maintenance and operations tax |
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rate adopted by the district for the 2005 tax year. |
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SECTION 2. Effective September 1, 2009, Section |
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42.302(a-1), Education Code, is amended to read as follows: |
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(a-1) In this section, "wealth per student" has the meaning |
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assigned by Section 41.001. For purposes of Subsection (a), the |
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dollar amount guaranteed level of state and local funds per |
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weighted student per cent of tax effort ("GL") for a school district |
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is: |
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(1) the amount of district tax revenue per weighted |
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student per cent of tax effort available to a district at the 88th |
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percentile in wealth per student, as determined by the commissioner |
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in cooperation with the Legislative Budget Board, for the |
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district's maintenance and operations tax effort equal to or less |
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than the rate equal to the product of the state compression |
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percentage, as determined under Section 42.2516, multiplied by the |
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maintenance and operations tax rate adopted by the district for the |
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2005 tax year; |
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(2) the amount of district tax revenue per weighted |
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student per cent of tax effort that would be available to the Austin |
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Independent School District, as determined by the commissioner in |
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cooperation with the Legislative Budget Board, if the reduction of |
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the limitation on tax increases as provided by Section 11.26(a-1), |
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(a-2), or (a-3), Tax Code, did not apply, for the first six cents by |
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which the district's maintenance and operations tax rate exceeds |
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the rate equal to the product of the state compression percentage, |
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as determined under Section 42.2516 [and notwithstanding the
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limitation on district enrichment tax rate ("DTR") under Section
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42.303], multiplied by the maintenance and operations tax rate |
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adopted by the district for the 2005 tax year; and |
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(3) the amount of district tax revenue per weighted |
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student per cent of tax effort specified by Subdivision (1) |
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[$31.95], for the district's maintenance and operations tax effort |
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that exceeds the amount of tax effort described by Subdivision (2). |
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SECTION 3. Effective September 1, 2010, Section |
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42.302(a-1), Education Code, as amended by Chapters 19 (H.B. 5) and |
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1191 (H.B. 828), Acts of the 80th Legislature, Regular Session, |
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2007, is reenacted and amended to read as follows: |
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(a-1) In this section, "wealth per student" has the meaning |
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assigned by Section 41.001. For purposes of Subsection (a), the |
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dollar amount guaranteed level of state and local funds per |
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weighted student per cent of tax effort ("GL") for a school district |
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is: |
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(1) the amount of district tax revenue per weighted |
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student per cent of tax effort available to a district at the 88th |
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percentile in wealth per student, as determined by the commissioner |
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in cooperation with the Legislative Budget Board, for the |
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district's maintenance and operations tax effort equal to or less |
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than the rate equal to the product of the state compression |
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percentage, as determined under Section 42.2516, multiplied by the |
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maintenance and operations tax rate adopted by the district for the |
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2005 tax year; |
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(2) the greater of the amount of district tax revenue |
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per weighted student per cent of tax effort that would be available |
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to the Austin Independent School District, as determined by the |
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commissioner in cooperation with the Legislative Budget Board, if |
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the reduction of the limitation on tax increases as provided by |
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Section 11.26(a-1), (a-2), or (a-3), Tax Code, did not apply, or the |
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amount of district tax revenue per weighted student per cent of tax |
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effort used for purposes of this subdivision in the preceding |
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school year, for the first six cents by which the district's |
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maintenance and operations tax rate exceeds the rate equal to the |
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product of the state compression percentage, as determined under |
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Section 42.2516, multiplied by the maintenance and operations tax |
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rate adopted by the district for the 2005 tax year; and |
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(3) the amount of district tax revenue per weighted |
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student per cent of tax effort specified by Subdivision (1) |
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[$31.95], for the district's maintenance and operations tax effort |
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that exceeds the amount of tax effort described by Subdivision (2). |
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SECTION 4. Except as otherwise provided by this Act, this |
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Act takes effect September 1, 2009. |