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A BILL TO BE ENTITLED
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AN ACT
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relating to the adjustment for rapid decline in taxable value of |
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property for school districts. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Sec. 42.2521. ADJUSTMENT FOR RAPID DECLINE IN |
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TAXABLE VALUE OF PROPERTY. (a) For purposes of Chapters 41 and 46 |
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and this chapter, and to the extent money specifically authorized |
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to be used under this section is available, |
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adjust the taxable value of property in a school district that, due |
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to factors beyond the control of the board of trustees, experiences |
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a rapid decline in the tax base used in calculating taxable values |
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in excess of four percent of the tax base used in the preceding |
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year. |
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(b) To the extent that a sufficient amount of money is not |
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available to fund all adjustments under this section, the |
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commissioner shall reduce adjustments in the manner provided by |
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Section 42.253(h) so that the total amount of adjustments equals |
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the amount of money available to fund the adjustments. |
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(c) A decision of the commissioner under this section is |
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final and may not be appealed. |
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SECTION 2. This Act applies beginning with the 2017-2018 |
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school year. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2017. |