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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 and the guaranteed yield |
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under the 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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sum of the product of the state compression percentage, as |
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determined under Section 42.2516, multiplied by the maintenance and |
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operations tax rate adopted by the district for the 2005 tax year |
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and any additional tax effort included in calculating the |
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district's compressed tax rate under Section 42.101(a-1); |
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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 eight [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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sum of the product of the state compression percentage, as |
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determined under Section 42.2516, multiplied by the maintenance and |
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operations tax rate adopted by the district for the 2005 tax year |
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and any additional tax effort included in calculating the |
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district's compressed tax rate under Section 42.101(a-1), subject |
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to Section 41.093(b-1); or |
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(3) $319,500, for the district's maintenance and |
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operations tax effort that exceeds the amount of tax effort |
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described by Subdivision (2). |
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SECTION 2. Section 42.101(a-1), Education Code, is amended |
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to read as follows: |
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(a-1) Notwithstanding Subsection (a), for a school district |
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that adopted a maintenance and operations tax rate for the 2005 tax |
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year below the maximum rate permitted by law for that year, the |
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district's compressed tax rate ("DCR") includes the portion of the |
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district's current maintenance and operations tax rate in excess of |
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the first eight [six] cents above the district's compressed tax |
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rate, as defined by Subsection (a), until the district's compressed |
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tax rate computed in accordance with this subsection is equal to the |
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state maximum compressed tax rate ("MCR"). |
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SECTION 3. Section 42.302(a-1), Education Code, is amended |
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to read as follows: |
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(a-1) For purposes of Subsection (a), the dollar amount |
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guaranteed level of state and local funds per weighted student per |
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cent of tax effort ("GL") for a school district 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 eight [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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sum of the product of the state compression percentage, as |
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determined under Section 42.2516, multiplied by the maintenance and |
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operations tax rate adopted by the district for the 2005 tax year |
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and any additional tax effort included in calculating the |
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district's compressed tax rate under Section 42.101(a-1); and |
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(2) $31.95, for the district's maintenance and |
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operations tax effort that exceeds the amount of tax effort |
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described by Subdivision (1). |
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SECTION 4. This Act takes effect September 1, 2019. |