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A BILL TO BE ENTITLED
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AN ACT
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relating to the dedication of surplus money in the foundation |
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school fund to reduce school district maintenance and operations ad |
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valorem taxes. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter F, Chapter 48, Education Code, is |
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amended by adding Section 48.2722 to read as follows: |
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Sec. 48.2722. DEDICATION OF SURPLUS FUNDS. If the amount |
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appropriated to the foundation school fund for a state fiscal year |
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exceeds the amount to which school districts are entitled to |
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receive under Chapter 46 and this chapter for that fiscal year, the |
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excess amount may be appropriated only to provide property tax |
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relief by reducing the state compression percentage under Section |
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48.255. |
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SECTION 2. This Act takes effect September 1, 2023. |