| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to treatment under the school finance system for certain |
|
|
school districts of maintenance and operations revenue in excess of |
|
|
the local share requirement. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 42.2516, Education Code, is amended by |
|
|
adding Subsections (j) and (k) to read as follows: |
|
|
(j) Notwithstanding any other provision of this code and as |
|
|
provided by Subsection (k), for purposes of Chapter 46 tax revenue |
|
|
collected from a maintenance and operations tax rate specified in |
|
|
Subsection (b) in excess of the amount of the local share required |
|
|
under Section 42.252 is not considered to have generated financial |
|
|
assistance under this section and is eligible to be included in the |
|
|
amount budgeted by a district for payment of eligible bonds under |
|
|
Section 46.032(c). |
|
|
(k) Subsection (j) applies to the determination of a school |
|
|
district's instructional facilities allotment or existing debt |
|
|
allotment under Chapter 46 for the 2006-2007 school year or later. |
|
|
SECTION 2. This Act takes effect immediately if it receives |
|
|
a vote of two-thirds of all the members elected to each house, as |
|
|
provided by Section 39, Article III, Texas Constitution. If this |
|
|
Act does not receive the vote necessary for immediate effect, this |
|
|
Act takes effect September 1, 2015. |