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A BILL TO BE ENTITLED
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AN ACT
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relating to the permissible wealth per student of certain school |
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districts. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 41.002, Education Code, is amended by |
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amending Subsection (a) and adding Subsection (c) to read as |
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follows: |
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(a) Except as provided by Subsection (c), a [A] school |
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district may not have a wealth per student that 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 six cents by which the district's maintenance |
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and operations tax rate exceeds the rate equal to the product of the |
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state 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, subject to Section 41.093(b-1); |
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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 six cents by which the |
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district's maintenance and operations tax effort exceeds the rate |
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equal to the product of the state compression percentage, as |
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determined under Section 42.2516, multiplied by the maintenance and |
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operations tax rate adopted by the district for the 2005 tax year. |
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(c) The limitation on wealth per student provided by this |
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section does not apply to a school district that serves both |
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students residing in this state and students residing in a state |
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that borders this state who are subsequently eligible for in-state |
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tuition rates at institutions of higher education in either state |
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regardless of the state in which the students reside. |
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SECTION 2. This Act takes effect September 1, 2015. |