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A BILL TO BE ENTITLED
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AN ACT
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relating to the allocation and deposit of certain surplus state |
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revenue to the property tax relief fund for use in reducing school |
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district maintenance and operations ad valorem taxes. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 403.109, Government Code, is amended by |
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adding Subsections (e) and (f) to read as follows: |
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(e) Not later than the 90th day after the last day of each |
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state fiscal biennium, the comptroller shall deposit to the credit |
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of the fund general revenue in an amount equal to one-half of the |
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amount by which the total available general revenue for that |
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biennium at the end of the biennium exceeds the amount of total |
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available general revenue stated in the comptroller's biennial |
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revenue estimate for that biennium. |
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(f) Notwithstanding any other provision of this section, |
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money deposited to the credit of the fund under Subsection (e) may |
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be appropriated only to the Texas Education Agency for use in |
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providing property tax relief through reduction of the state |
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compression percentage, as defined by Section 48.255, Education |
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Code. |
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SECTION 2. This Act applies beginning with the state fiscal |
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biennium beginning September 1, 2025. |
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SECTION 3. This Act takes effect September 1, 2023. |