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A BILL TO BE ENTITLED
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AN ACT
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relating to a credit for prepayment of the amount required to be |
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paid by a school district for the purchase of attendance credit |
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under the public school finance system. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter D, Chapter 49, Education Code, is |
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amended by adding Section 49.1541 to read as follows: |
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Sec. 49.1541. CREDIT FOR PREPAYMENT. (a) The total amount |
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required under Section 49.153 for a school district to purchase |
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attendance credit under this subchapter for any school year is |
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reduced by 1.5 percent per month for payments made for each month |
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before the total amount is required to be paid on August 15; and |
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(b) A reduction under Subsection (a) shall be made after |
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making any reduction to which the district is entitled under |
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Section 49.157 or another provision of this chapter. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2023. |