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A BILL TO BE ENTITLED
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AN ACT
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relating to the state compression percentage and a school |
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district's maximum compressed tax rate under the public school |
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finance system. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 48.255(b), Education Code, is amended to |
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read as follows: |
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(b) The state compression percentage is the lower of: |
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(1) 93 percent, or a lower percentage set by |
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appropriation for a school year; |
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(2) the percentage determined by the following |
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formula: |
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SCP = PYCP X 1.0 [1.025]/(1 + ECPV); or |
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(3) the percentage determined under this section for |
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the preceding school year. |
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SECTION 2. Section 48.2551(b), Education Code, is amended |
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to read as follows: |
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(b) A [Except as provided by Subsection (c), a] district's |
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maximum compressed rate ("MCR") is the lesser of: |
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(1) the rate determined by the following [applicable] |
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formula: |
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[(A) if "DPV" exceeds "PYDPV" by an amount equal |
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to or greater than 2.5 percent:] |
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MCR = [(1.025]((PYDPV+E) X PYMCR)[)]/DPV; or |
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[(B) if Paragraph (A) does not apply: |
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[MCR = PYMCR; or] |
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(2) the product of the state compression percentage, |
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as determined under Section 48.255, for the current tax year, |
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multiplied by $1.00. |
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SECTION 3. (a) This section takes effect only if the |
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constitutional amendment proposed by H.J.R. 2, 88th Legislature, |
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2nd Called Session, 2023, is approved by the voters. |
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(b) Section 48.2555(a), Education Code, as effective on |
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approval by the voters of H.J.R. 2, 88th Legislature, 2nd Called |
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Session, 2023, is amended to read as follows: |
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(a) Notwithstanding any other provision of this title or |
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Chapter 26, Tax Code, for the 2023-2024 school year, the |
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commissioner shall calculate the value of a school district's |
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maximum compressed tax rate by determining the district's maximum |
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compressed rate under Section 48.2551 [or 48.2552(b), if |
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applicable,] and reducing the tax rate determined under the |
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applicable section by $0.107. |
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SECTION 4. Sections 48.2551(c) and 48.2552, Education Code, |
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are repealed. |
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SECTION 5. Except as otherwise provided by this Act, this |
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Act takes effect September 1, 2024. |