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A BILL TO BE ENTITLED
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AN ACT
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relating to the deposit of certain constitutionally |
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dedicated money to the credit of the tax reduction and excellence in |
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education fund and the use of that money. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 47, Education Code, is amended by adding |
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Section 47.0045 to read as follows: |
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Section 47.004, Education Code, is amended to read as |
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follows: |
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Sec. 47.0045. DEPOSIT AND USE OF CERTAIN MONEY DEDICATED |
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FOR SCHOOL DISTRICT AD VALOREM TAX RATE REDUCTION. (a) The |
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comptroller shall deposit to the credit of the fund money described |
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by Section 7-e(a) Article VIII, Texas Constitution. |
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(b) Money deposited to the fund under this section and |
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appropriated to the agency under Section 7-e, Article VIII, Texas |
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Constitution, may be used only for the purpose of reducing the state |
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compression percentage under Section 48.255. |
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SECTION 2. This Act takes effect January 1, 2023, but only |
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if the constitutional amendment proposed by the 87th Legislature, |
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2nd Called Session, 2021, providing for the appropriation of |
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certain surplus state revenue for the purpose of reducing school |
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district maintenance and operations ad valorem taxes is approved by |
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the voters. If that amendment is not approved by the voters, this |
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Act has no effect. |