86R11228 MEW-D
 
  By: Meyer H.B. No. 4593
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the equalized wealth level and the guaranteed yield
  under the 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
  sum of 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 any additional tax effort included in calculating the
  district's compressed tax rate under Section 42.101(a-1);
               (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 eight [six] cents by which the district's
  maintenance and operations tax rate exceeds the rate equal to the
  sum of 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 any additional tax effort included in calculating the
  district's compressed tax rate under Section 42.101(a-1), subject
  to Section 41.093(b-1); or
               (3)  $319,500, for the district's maintenance and
  operations tax effort that exceeds the amount of tax effort
  described by Subdivision (2).
         SECTION 2.  Section 42.101(a-1), Education Code, is amended
  to read as follows:
         (a-1)  Notwithstanding Subsection (a), for a school district
  that adopted a maintenance and operations tax rate for the 2005 tax
  year below the maximum rate permitted by law for that year, the
  district's compressed tax rate ("DCR") includes the portion of the
  district's current maintenance and operations tax rate in excess of
  the first eight [six] cents above the district's compressed tax
  rate, as defined by Subsection (a), until the district's compressed
  tax rate computed in accordance with this subsection is equal to the
  state maximum compressed tax rate ("MCR").
         SECTION 3.  Section 42.302(a-1), Education Code, is amended
  to read as follows:
         (a-1)  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 eight [six] cents by which the district's
  maintenance and operations tax rate exceeds the rate equal to the
  sum of 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 any additional tax effort included in calculating the
  district's compressed tax rate under Section 42.101(a-1); and
               (2)  $31.95, for the district's maintenance and
  operations tax effort that exceeds the amount of tax effort
  described by Subdivision (1).
         SECTION 4.  This Act takes effect September 1, 2019.