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A BILL TO BE ENTITLED
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AN ACT
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relating to the balance maintained in a school district's general |
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fund and associated requirements regarding the general fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter D, Chapter 39, Education Code, is |
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amended by adding Section 39.0822 to read as follows: |
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Sec. 39.0822. GENERAL FUND REQUIREMENTS. (a) The |
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commissioner by rule shall require each school district to: |
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(1) maintain a minimum balance in the district's |
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general fund; and |
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(2) publicly report each year the district's intended |
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use of general fund balances that exceed a specified percentage of |
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the district's annual operating expenditures. |
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(b) For purposes of Subsection (a)(1), the commissioner may |
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express the balance required as a percentage of a district's annual |
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operating expenditures or in another manner considered appropriate |
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by the commissioner. The commissioner may impose variable balance |
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requirements for school districts based on relevant school district |
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characteristics. |
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(c) Each school district board of trustees must adopt a |
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policy regarding the operation of the general fund and the minimum |
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balance to be maintained by the district. |
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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, 2015. |