HB 5, Hse 2nd Rdg, Amnd #1

(2) On page 16, line 24, between "application" and the underlined period, insert "and submit a copy of the report to the comptroller and the applicant".

(3) On page 17, between lines 10 and 11, insert the following:

(d) A school finance impact report must include, for each year the agreement is proposed to be in effect, a calculation of any anticipated loss of funding, not including facilities funding, to the school district as a result of the agreement. The district shall make the calculations under this subsection in accordance with the law, including the constitution, Chapters 48 and 49, Education Code, and this chapter, rules, and judicial decisions governing school districts and the public school finance system in effect at the time the application is submitted.

(e) A school district that enters into an agreement shall update the school finance impact report applicable to the project that is the subject of the agreement not later than March 1 of the first year of the incentive period specified in the agreement. The district must submit a copy of the updated report to the comptroller and the applicant.

(4) On page 19, strike lines 12 through 19.

(5) On page 19, line 20, strike "(c)" and substitute "(b)".

(6) On page 19, lines 21 and 22, strike "under Subsection (b)".

(7) On page 20, line 1, strike "(d)" and substitute "(c)".

(8) On page 20, line 6, strike "(e)" and substitute "(d)".

(9) On page 20, line 16, strike "(f)" and substitute "(e)".

(10) On page 24, line 3, between the underlined period and "The", insert the following:

In this subsection, a material change is a change that results in an indemnity payment calculated under this subsection for a tax year that is at least 10 percent of the amount of any anticipated loss of funding calculated for that tax year as specified in the updated school finance impact report required by Section 403.608(e).

(11) On page 24, line 6, strike "substantially reduced as a result" and substitute "reduced as a direct result".

(12) On page 24, strike lines 7 through 10, and substitute the following:

legislation or a final judicial determination that results in a substantial change that affects the Foundation School Program, not including facilities funding, and directly affects an agreement resulting in a material change. The amount of the indemnity payment is

(13) On page 24, lines 26 and 27, strike ", an amendment to the constitution,".

(14) On page 25, line 3, strike "entered into under this subchapter" and substitute "resulting in a material change".