Bill Text: TX HB19 | 2023 | 88th Legislature 2nd Special Session | Introduced
Bill Title: Relating to the allocation and deposit of certain surplus state revenue to the property tax relief fund for use in reducing school district maintenance and operations ad valorem taxes.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2023-07-05 - Referred to Ways & Means [HB19 Detail]
Download: Texas-2023-HB19-Introduced.html
| By: Oliverson | H.B. No. 19 | |
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| relating to the allocation and deposit of certain surplus state | ||
| revenue to the property tax relief fund for use in reducing school | ||
| district maintenance and operations ad valorem taxes. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 403.109, Government Code, is amended by | ||
| adding Subsections (e) and (f) to read as follows: | ||
| (e) The comptroller shall: | ||
| (1) allocate for deposit to the credit of the fund | ||
| general revenue in an amount equal to 90 percent of the amount by | ||
| which the amount of general revenue received in a state fiscal | ||
| biennium exceeds 104 percent of the total amount of general revenue | ||
| that was received during the preceding state fiscal biennium; and | ||
| (2) periodically deposit to the credit of the fund the | ||
| general revenue allocated under Subdivision (1), with the final | ||
| deposit for that biennium to be made not later than the 90th day of | ||
| the next state fiscal biennium. | ||
| (f) Notwithstanding any other provision of this section, | ||
| money deposited to the credit of the fund under Subsection (e) may | ||
| be appropriated only to the Texas Education Agency for use in | ||
| providing property tax relief through reduction of the state | ||
| compression percentage, as defined by Section 48.255, Education | ||
| Code. | ||
| SECTION 2. This Act applies beginning with the state fiscal | ||
| biennium beginning September 1, 2023. | ||
| SECTION 3. This Act takes effect September 1, 2023. | ||
