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A BILL TO BE ENTITLED
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AN ACT
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relating to the equalized wealth level and the guaranteed yield |
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under the school finance system. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 41.002(a), Education Code, is amended to |
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read as follows: |
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(a) A school district may not have a wealth per student that |
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exceeds: |
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(1) the wealth per student that generates the amount |
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of maintenance and operations tax revenue per weighted student |
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available to a district with maintenance and operations tax revenue |
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per cent of tax effort equal to the maximum amount provided per cent |
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under Section 42.101(a) or (b), for the district's maintenance and |
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operations tax effort equal to or less than the rate equal to the |
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product of the state compression percentage, as determined under |
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Section 42.2516, multiplied by the maintenance and operations tax |
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rate adopted by the district for the 2005 tax year; |
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(2) the wealth per student that generates the amount |
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of maintenance and operations tax revenue per weighted student |
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available to the Austin Independent School District, as determined |
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by the commissioner in cooperation with the Legislative Budget |
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Board, for the first eight [six] cents by which the district's |
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maintenance and operations tax rate exceeds the rate equal to the |
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product of the state compression percentage, as determined under |
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Section 42.2516, multiplied by the maintenance and operations tax |
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rate adopted by the district for the 2005 tax year, subject to |
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Section 41.093(b-1); or |
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(3) $319,500, for the district's maintenance and |
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operations tax effort that exceeds the first eight [six] cents by |
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which the district's maintenance and operations tax effort exceeds |
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the rate equal to the product of the state compression percentage, |
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as determined under Section 42.2516, multiplied by the maintenance |
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and operations tax rate adopted by the district for the 2005 tax |
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year. |
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SECTION 2. Section 41.093(b-1), Education Code, is amended |
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to read as follows: |
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(b-1) If the guaranteed level of state and local funds per |
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weighted student per cent of tax effort under Section |
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42.302(a-1)(1) for which state funds are appropriated for a school |
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year is an amount at least equal to the amount of revenue per |
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weighted student per cent of tax effort available to the Austin |
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Independent School District, as determined by the commissioner in |
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cooperation with the Legislative Budget Board, the commissioner, in |
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computing the amounts described by Subsections (a)(1) and (2) and |
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determining the cost of an attendance credit, shall exclude |
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maintenance and operations tax revenue resulting from the first |
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eight [six] cents by which a district's maintenance and operations |
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tax rate exceeds the rate equal to the product of the state |
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compression percentage, as determined under Section 42.2516, |
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multiplied by the maintenance and operations tax rate adopted by |
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the district for the 2005 tax year. |
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SECTION 3. Section 42.302(a-1), Education Code, is amended |
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to read as follows: |
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(a-1) [In this section, "wealth per student" has the meaning
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assigned by Section 41.001.] For purposes of Subsection (a), the |
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dollar amount guaranteed level of state and local funds per |
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weighted student per cent of tax effort ("GL") for a school district |
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is: |
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(1) the greater of the amount of district tax revenue |
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per weighted student per cent of tax effort that would be available |
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to the Austin Independent School District, as determined by the |
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commissioner in cooperation with the Legislative Budget Board, if |
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the reduction of the limitation on tax increases as provided by |
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Section 11.26(a-1), (a-2), or (a-3), Tax Code, did not apply, or the |
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amount of district tax revenue per weighted student per cent of tax |
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effort used for purposes of this subdivision in the preceding |
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school year, for the first eight [six] cents by which the district's |
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maintenance and operations tax rate exceeds the rate equal to the |
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product of the state compression percentage, as determined under |
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Section 42.2516, multiplied by the maintenance and operations tax |
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rate adopted by the district for the 2005 tax year; and |
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(2) $31.95, for the district's maintenance and |
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operations tax effort that exceeds the amount of tax effort |
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described by Subdivision (1). |
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SECTION 4. This Act takes effect September 1, 2015. |