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A BILL TO BE ENTITLED
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AN ACT
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relating to an allotment under the public school finance system for |
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the cost of windstorm and hail insurance. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter C, Chapter 42, Education Code, is |
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amended by adding Section 42.161 to read as follows: |
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Sec. 42.161. WINDSTORM AND HAIL INSURANCE ALLOTMENT. (a) A |
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school district that contracts for windstorm and hail insurance is |
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entitled to receive an allotment equal to the total amount required |
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to be paid for the insurance, not to exceed an amount specified by |
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commissioner rule. |
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(b) The commissioner may provide the allotment under this |
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section only if funds are specifically appropriated for that |
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purpose or the commissioner determines that the amount appropriated |
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for purposes of the Foundation School Program exceeds the amount to |
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which school districts are entitled under this chapter and the |
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excess funds may be used for that purpose. |
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SECTION 2. Section 42.2516(b), Education Code, is amended |
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to read as follows: |
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(b) Notwithstanding any other provision of this title, a |
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school district that imposes a maintenance and operations tax at a |
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rate at least equal to the product of the state compression |
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percentage multiplied by the maintenance and operations tax rate |
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adopted by the district for the 2005 tax year is entitled to at |
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least the amount of state revenue necessary to provide the district |
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with the sum of: |
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(1) as calculated under Subsection (e), the amount of |
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state and local revenue per student in weighted average daily |
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attendance for maintenance and operations that the district would |
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have received during the 2009-2010 school year under Chapter 41 and |
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this chapter, as those chapters existed on January 1, 2009, at a |
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maintenance and operations tax rate equal to the product of the |
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state compression percentage for that year 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) an amount equal to the product of $120 multiplied |
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by the number of students in weighted average daily attendance in |
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the district; |
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(3) an amount equal to the amount the district is |
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required to pay into the tax increment fund for a reinvestment zone |
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under Section 311.013(n), Tax Code, in the current tax year; [and] |
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(4) any amount to which the district is entitled under |
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Section 42.106; and |
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(5) any amount to which the district is entitled under |
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Section 42.161. |
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SECTION 3. This Act takes effect September 1, 2011. |