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