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A BILL TO BE ENTITLED
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AN ACT
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relating to the dedication of certain surplus state revenue for |
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school district maintenance and operations ad valorem tax relief. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. The heading to Subchapter G, Chapter 403, |
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Government Code, is amended to read as follows: |
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SUBCHAPTER G. FUNDS AND REVENUE DEDICATIONS |
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SECTION 2. Subchapter G, Chapter 403, Government Code, is |
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amended by adding Section 403.108 to read as follows: |
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Sec. 403.108. DEDICATION OF CERTAIN SURPLUS STATE REVENUE |
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FOR SCHOOL DISTRICT AD VALOREM TAX RELIEF. (a) The comptroller |
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shall, not later than the 90th day of each state fiscal biennium: |
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(1) determine the amount of money equal to the |
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difference between the amount of total available general revenue at |
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the end of the preceding state fiscal biennium and the amount of |
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total available general revenue stated in the comptroller's |
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biennial revenue estimate for that preceding biennium, less any |
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amount of general revenue transferred as required by other law; and |
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(2) if the amount determined under Subdivision (1) is |
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at least $1.5 billion, deposit to the credit of an account in the |
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general revenue fund 10 percent of the amount determined under that |
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subdivision. |
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(b) Money in the account described by Subsection (a) may be |
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appropriated by the legislature only to provide school district |
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maintenance and operations ad valorem tax relief. |
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SECTION 3. This Act applies beginning with the state fiscal |
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biennium beginning September 1, 2027. |
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SECTION 4. This Act takes effect on the 91st day after the |
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last day of the legislative session. |