| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to a credit for prepayment of the amount required to be |
|
|
paid by a school district for the purchase of attendance credit |
|
|
under the public school finance system. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Subchapter D, Chapter 49, Education Code, is |
|
|
amended by adding Section 49.1541 to read as follows: |
|
|
Sec. 49.1541. CREDIT FOR PREPAYMENT. (a) If a school |
|
|
district elects to pay for attendance credit purchased in the |
|
|
manner provided by Section 49.154(a)(2), the total amount required |
|
|
under Section 49.153 for the district to purchase credit under this |
|
|
subchapter for any school year is reduced at a rate of one percent |
|
|
for each full 30-day period remaining until August 15 of the school |
|
|
year for which the agreement is in effect on the date the district |
|
|
pays in one payment the total amount required to be paid by the |
|
|
district. |
|
|
(b) A reduction under Subsection (a) shall be made after |
|
|
making any reduction to which the district is entitled under |
|
|
Section 49.157 or another provision of this chapter. |
|
|
SECTION 2. This Act takes effect on the 91st day after the |
|
|
last day of the legislative session. |