By: Krause H.B. No. 4603
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the allocation and deposit of certain surplus state
  revenue to the property tax relief fund for use in reducing school
  district maintenance and operations ad valorem taxes and providing
  compensation for teachers, counselors, and librarians employed in
  public schools.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 403.109, Government Code, is amended by
  adding Subsections (e) and (f) to read as follows:
         (e)  The comptroller shall:
               (1)  allocate for deposit to the credit of the general
  revenue fund in an amount equal one-half of the unencumbered
  positive balance of general revenues on the last day of the
  preceding state fiscal biennium; and
               (2)  75 percent of the one-half of the unencumbered
  positive balance of the general revenues may be used only to provide
  ad valorem tax relief by reducing school district maintenance and
  operations ad valorem tax rates; and
               (3)  25 percent of the one-half of the unencumbered
  positive balance of the general revenues may be used only to provide
  compensation for teachers, counselors, and librarians employed in
  public schools; and
               (4)  periodically deposit to the credit of the fund the
  general revenue allocated under Subdivision (1), with the final
  deposit for that biennium to be made not later than the 90th day of
  the next state fiscal biennium.
         (f)  Notwithstanding any other provision of this section,
  money deposited to the credit of the fund under Subsection (e) may
  be appropriated only to the Texas Education Agency for use in:
               (1)  providing property tax relief through reduction
  other state compression percentage, as defined by Section
  42.2516(a), Education Code.
               (2)  providing compensation for teachers, counselors,
  and librarians employed in public schools.
         SECTION 2.  This Act applies beginning with the state fiscal
  biennium beginning September 1, 2021.
         SECTION 4.  This Act takes effect January 1, 2020, but only
  if the constitutional amendment proposed by the 86th Legislature,
  Regular Session, 2019, limiting the rate of growth of
  appropriations and the use of surplus state revenue to provide for
  property tax relief and public school teacher compensation.  If
  that amendment is not approved by the voters, this Act has no
  effect.