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A BILL TO BE ENTITLED
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AN ACT
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relating to state assistance to fund public school instructional |
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facilities in fast-growing school districts. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 46.003(a), Education Code, is amended to |
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read as follows: |
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(a) For each year, except as provided by Sections 46.005 and |
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46.006, a school district is guaranteed a specified amount per |
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student in state and local funds for each cent of tax effort, up to |
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the maximum rate under Subsection (b), to pay the principal of and |
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interest on eligible bonds issued to construct, acquire, renovate, |
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or improve an instructional facility. The amount of state support |
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is determined by the formula: |
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FYA = (FYL X ADA X BTR X 100) - (BTR X (DPV/100)) |
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where: |
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"FYA" is the guaranteed facilities yield amount of state |
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funds allocated to the district for the year; |
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"FYL" is the dollar amount guaranteed level of state and |
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local funds per student per cent of tax effort, which is $35 or a |
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greater amount for any year provided by appropriation or provided |
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for under Section 46.0031; |
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"ADA" is the greater of the number of students in average |
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daily attendance, as determined under Section 42.005, in the |
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district or 400; |
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"BTR" is the district's bond tax rate for the current year, |
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which is determined by dividing the amount budgeted by the district |
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for payment of eligible bonds by the quotient of the district's |
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taxable value of property as determined under Subchapter M, Chapter |
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403, Government Code, or, if applicable, Section 42.2521, divided |
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by 100; and |
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"DPV" is the district's taxable value of property as |
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determined under Subchapter M, Chapter 403, Government Code, or, if |
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applicable, Section 42.2521. |
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SECTION 2. Subchapter A, Chapter 46, Education Code, is |
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amended by adding Section 46.0031 to read as follows: |
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Sec. 46.0031. INCREASED ALLOTMENT AMOUNT FOR INSTRUCTIONAL |
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FACILITIES IN FAST-GROWING SCHOOL DISTRICTS. (a) This section |
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applies to state support to pay the principal and interest only on |
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eligible bonds as provided by Section 46.0031(d) that are issued by |
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fast-growing school districts. |
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(b) For the purposes of this section, a fast-growing school |
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district is a school district that has enrollment growth of 10 |
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percent or more over the preceding five-year period. |
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(c) For a bond issue to which this section applies, the |
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dollar amount guaranteed level of state and local funds per student |
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per cent of tax effort ("FYL") is an amount equal to $50 or a greater |
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amount for any year provided by appropriation. |
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(d) Bonds are eligible to be paid with state and local funds |
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under this subchapter if: |
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(1) a school district is classified as fast-growing |
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under Subsection (b); and |
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(2) a school district applies in the 2008-09 school |
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year or subsequent school years to the commissioner in accordance |
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with rules adopted by the commissioner before issuing bonds that |
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will be paid with state assistance; and |
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(3) the district does not receive state assistance |
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under Subchapter B for payment of the principal and interest on the |
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bonds. |
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(e) A school district may use state funds received under |
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this section to pay the principal of and interest on refunding bonds |
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that were issued under the provisions of this section. |
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(f) Once bonds are determined to be eligible under this |
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section, a school district receives funding under Section remains |
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eligible for that funding level regardless of whether the school |
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district continues to meet the requirements of subsection (b). |
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SECTION 3. Section 46.032(a), Education Code, is amended to |
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read as follows: |
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(a) Each school district is guaranteed a specified amount |
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per student in state and local funds for each cent of tax effort to |
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pay the principal of and interest on eligible bonds. The amount of |
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state support, subject only to the maximum amount under Section |
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46.034, is determined by the formula: |
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EDA = (EDGL X ADA X EDTR X 100) - (EDTR X (DPV/100)) |
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where: |
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"EDA" is the amount of state funds to be allocated to the |
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district for assistance with existing debt; |
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"EDGL" is the dollar amount guaranteed level of state and |
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local funds per student per cent of tax effort, which is $35 or a |
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greater amount for any year provided by appropriation or provided |
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for under Section 46.0321; |
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"ADA" is the number of students in average daily attendance, |
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as determined under Section 42.005, in the district; |
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"EDTR" is the existing debt tax rate of the district, which is |
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determined by dividing the amount budgeted by the district for |
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payment of eligible bonds by the quotient of the district's taxable |
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value of property as determined under Subchapter M, Chapter 403, |
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Government Code, or, if applicable, under Section 42.2521, divided |
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by 100; and |
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"DPV" is the district's taxable value of property as |
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determined under Subchapter M, Chapter 403, Government Code, or, if |
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applicable, under Section 42.2521. |
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SECTION 4. Subchapter B, Chapter 46, Education Code, is |
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amended by adding Section 46.0321 to read as follows: |
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Sec. 46.0321. INCREASED ASSISTANCE FOR EXISTING DEBT IN |
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FAST-GROWING SCHOOL DISTRICTS. (a) This section applies to state |
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support to pay the principal and interest only on eligible bonds as |
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provided by Section 46.0031(d) issued by fast-growing school |
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districts. |
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(b) For the purposes of this section, a fast-growing school |
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district is a school district that has enrollment growth of 10 |
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percent or more over the preceding five-year period. |
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(c) For eligible debt to which this section applies, the |
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dollar amount guaranteed level of state and local funds per student |
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per cent of tax effort ("FYL") under Section 46.032(a) is an amount |
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equal to $50 or a greater amount for any year provided by |
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appropriation. |
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(d) Bonds are eligible to be paid with state and local funds |
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under this subchapter if: |
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(1) the district made payments on the bonds during the |
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2008-09 school year or subsequent school years or taxes levied to |
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pay the principal of and interest on the bonds were included in the |
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district's audited debt service collections for that school year or |
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subsequent school years; and |
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(2) the district does not receive state assistance |
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under Subchapter A for payment of the principal and interest on the |
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bonds. |
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(e) A school district may use state funds received under |
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this section to pay the principal of and interest on refunding bonds |
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for bonds that were initially eligible under the provisions of this |
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section. |
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(f) Once bonds are determined to be eligible under this |
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section, a school district receives funding under this section |
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remains eligible for that funding level regardless of whether the |
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school district continues to meet the requirements of subsection |
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(b). |
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SECTION 5. Section 46.033, Education Code, is amended to |
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read as follows: |
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Sec. 46.033. ELIGIBLE BONDS. Bonds, including bonds |
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issued under Section 45.006, are eligible to be paid with state and |
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local funds under this subchapter if: |
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(1) the district made payments on the bonds during the |
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[2006-2007]second school year of the previous state biennium or |
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taxes levied to pay the principal of and interest on the bonds were |
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included in the district's audited debt service collections for |
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that school year; and |
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(2) the district does not receive state assistance |
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under Subchapter A for payment of the principal and interest on the |
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bonds. |
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SECTION 6. Section 46.034(a), Education Code, is amended to |
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read as follows: |
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Sec. 46.034. LIMITS ON ASSISTANCE. (a) The existing debt |
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tax rate ("EDTR") under Section 46.032 may not exceed [$0.29] $0.50 |
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per $100 of valuation, or a greater amount for any year provided by |
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appropriation. |
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SECTION 7. This Act takes effect September 1, 2009. |