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