| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to the maintenance and operations tax revenue of a school |
|
|
district located in a reinvestment zone. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 41.093(b), Education Code, is amended to |
|
|
read as follows: |
|
|
(b) For purposes of this section, a school district's |
|
|
maintenance and operations tax revenue does not include: |
|
|
(1) any amounts paid into a tax increment fund under |
|
|
Chapter 311, Tax Code; or |
|
|
(2) for a period of 10 years following the final year |
|
|
that the district made payments described by Subdivision (1), an |
|
|
amount equal to the total amount paid into the tax increment fund |
|
|
during the final year. |
|
|
SECTION 2. This Act takes effect September 1, 2015. |