By: Dunnam H.B. No. 2499
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the appropriation of money from the property tax relief
  fund.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 403.109, Government Code, is amended to
  read as follows:
         Sec. 403.109.  PROPERTY TAX RELIEF FUND.  (a)  The property
  tax relief fund is a special fund in the state treasury outside the
  general revenue fund. The fund is exempt from the application of
  Sections 403.095 and 404.071. Interest and income from the deposit
  and investment of money in the fund must be allocated monthly to the
  fund.
         (b)  Until the state fiscal year beginning after the first
  tax year in which the residence homestead exemption is increased to
  $45,000 or the average school district maintenance and operations
  tax rate is not more than $1.33 [$1.00] per $100 of taxable value,
  money in the fund may be appropriated only for covering the cost of
  increasing the residence homestead exemption or a purpose that will
  result in a reduction of school district maintenance and operations
  tax rates to rates that are less than the rates in effect for the
  2005 tax year.
         (c)  Beginning in the state fiscal year that begins after the
  first tax year in which the residence homestead exemption is
  increased to $45,000 or the average school district maintenance and
  operations tax rate is not more than $1.33 [$1.00] per $100 of
  taxable value, any money remaining in the fund after a sufficient
  amount of money is appropriated in that state fiscal year to
  maintain the cost of increasing the residence homestead exemption
  or to maintain an average school district maintenance and
  operations tax rate of $1.33 [$1.00] per $100 of taxable value may
  be appropriated only as follows:
               (1)  two-thirds of the money appropriated from the fund
  may be appropriated only for a purpose that will result in a further
  increase in the residence homestead exemption or reduction of the
  average school district maintenance and operations tax rate; and
               (2)  one-third of the money appropriated from the fund
  may be appropriated only for the purpose of increasing the level of
  equalization of school district enrichment tax effort to the extent
  that limits reliance by school districts on local property tax
  effort and decreases the enrichment tax rates of districts.
         (d)  To the extent to which maintenance and operations tax
  rates are reduced using money appropriated from the fund,
  reductions must be carried out so as not to increase disparity in
  revenue yield between districts of varying property wealth per
  weighted student.
         SECTION 2.  This Act takes effect September 1, 2009.