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A BILL TO BE ENTITLED
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AN ACT
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relating to a grant program to encourage certain school districts |
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to retire debt or make capital improvements. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter A, Chapter 41, Education Code, is |
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amended by adding Section 41.014 to read as follows: |
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Sec. 41.014. GRANT PROGRAM FOR CERTAIN SCHOOL DISTRICTS. |
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(a) The commissioner shall establish a grant program in accordance |
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with this section designed to encourage school districts that |
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experience significant and rapid increases in wealth per student to |
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retire debt or make appropriate capital improvements for the |
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benefit of the district. |
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(b) A school district may apply for a one-year grant during |
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the first school year that the district is required to take action |
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to equalize wealth under this chapter if: |
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(1) the district's taxable property value per student |
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has at least doubled during a two-year period; |
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(2) the district is ranked in the top 10 percent of |
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school districts in this state based on wealth per student; and |
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(3) during the school year preceding the year of the |
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application, the district: |
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(A) did not reduce the district's adopted |
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maintenance and operations tax rate; and |
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(B) used maintenance and operations revenue to |
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retire debt, construct or renovate facilities, increase or upgrade |
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technology resources, or purchase school buses. |
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(c) A grant awarded under this section: |
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(1) may not exceed the amount of maintenance and |
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operations revenue expended by the district during the preceding |
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year for a purpose described by Subsection (b)(3)(B); and |
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(2) may be used only for a purpose described by |
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Subsection (b)(3)(B). |
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(d) Grants under this section shall be provided using funds |
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appropriated for that purpose. |
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(e) The commissioner shall adopt rules necessary to |
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implement this section. |
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SECTION 2. 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, 2013. |