88S40004 MEW-D
 
  By: Guillen H.B. No. 21
 
 
 
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.