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A BILL TO BE ENTITLED
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AN ACT
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Relating to consideration of payments made in lieu of ad valorem |
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taxes. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 41.093, Education Code, is amended by |
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amending Subsection (a) and adding Subsection (b-2) to read as |
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follows: |
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(a) Subject to Subsections [Subsection] (b-1) and (b-2), |
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the cost of each credit is an amount equal to the greater of: |
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(1) the amount of the district's maintenance and |
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operations tax revenue per student in weighted average daily |
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attendance for the school year for which the contract is executed; |
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or |
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(2) the amount of the statewide district average of |
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maintenance and operations tax revenue per student in weighted |
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average daily attendance for the school year preceding the school |
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year for which the contract is executed. |
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(b-2) In this subsection, "payments in lieu of taxes" means |
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amounts that are paid to a school district by the owner of property |
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exempt from ad valorem taxation who receives an allocation of low |
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income housing tax credits from the Texas Department of Housing and |
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Community Affairs under Subchapter DD, Chapter 2306, Government |
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C |
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ode, in connection with development of the property. The |
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commissioner, in computing the amounts described by Subsections |
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(a)(1) and (2) and determining the cost of an attendance credit, |
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shall include payments in lieu of taxes as if the payments were |
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maintenance and operations tax revenue. The commissioner may adopt |
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rules necessary to implement this subsection. |
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SECTION 2. This Act takes effect September 1, 2013. |