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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, basic allotment, local |
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share, and guaranteed yield under the public 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 $1.50 [the maintenance and
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operations tax 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 $1.50 [the maintenance and operations tax rate
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adopted by the district for the 2005 tax year], subject to Section |
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41.093(b-1); or |
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(3) the wealth per student specified under Subdivision |
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(1) [$319,500], for the district's maintenance and operations tax |
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effort that exceeds the first six cents by which the district's |
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maintenance and operations tax effort 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 $1.50 [the maintenance and
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operations tax rate adopted by the district for the 2005 tax 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 six |
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cents by which a district's maintenance and operations tax rate |
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exceeds the rate equal to the product of the state compression |
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percentage, as determined under Section 42.2516, multiplied by |
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$1.50 [the maintenance and operations tax rate adopted by the
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district for the 2005 tax year]. |
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SECTION 3. Section 42.101, Education Code, as effective |
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September 1, 2015, is amended by amending Subsection (a) and adding |
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Subsection (a-1) to read as follows: |
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(a) Except as provided by Subsection (a-1), for [For] each |
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student in average daily attendance, not including the time |
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students spend each day in special education programs in an |
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instructional arrangement other than mainstream or career and |
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technology education programs, for which an additional allotment is |
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made under Subchapter C, a district is entitled to an allotment |
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equal to $5,040 [the lesser of $4,765 or the amount that results
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from the following formula:
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[A = $4,765 X (DCR/MCR)
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[where:
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["A" is the allotment to which a district is entitled;
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["DCR" is the district's compressed tax rate, which is 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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["MCR" is the state maximum compressed tax rate, which is the
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product of the state compression percentage, as determined under
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Section 42.2516, multiplied by $1.50]. |
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(a-1) A school district with a maintenance and operations |
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tax rate less than 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 $1.50 is entitled to a proportion of the allotment |
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provided under Subsection (a) or (b) equal to the proportion that |
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the district's maintenance and operations tax rate bears to the tax |
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rate equal to the product of the state compression percentage, as |
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determined under Section 42.2516, multiplied by $1.50. |
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SECTION 4. Section 42.252(a), Education Code, is amended to |
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read as follows: |
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(a) Each school district's share of the Foundation School |
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Program is determined by the following formula: |
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LFA = TR X DPV |
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where: |
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"LFA" is the school district's local share; |
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"TR" is a tax rate which for each hundred dollars of valuation |
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is an effective tax rate of the lesser of: |
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(1) the amount 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 lesser of:
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[(1)] $1.50; or |
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(2) the maintenance and operations tax rate adopted by |
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the district [for the 2005 tax year]; and |
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"DPV" is the taxable value of property in the school district |
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for the preceding tax year determined under Subchapter M, Chapter |
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403, Government Code. |
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SECTION 5. 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 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 $1.50 [the maintenance and
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operations tax rate adopted by the district for the 2005 tax year]; |
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and |
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(2) the amount of district tax revenue per weighted |
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student per cent of tax effort available to a district with |
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maintenance and operations tax revenue per cent of tax effort equal |
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to the maximum amount provided per cent under Section 42.101(a) or |
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(b) [$31.95], for the district's maintenance and operations tax |
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effort that exceeds the amount of tax effort described by |
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Subdivision (1). |
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SECTION 6. This Act takes effect September 1, 2015. |