Bill Text: TX HB2607 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to treatment under the school finance system for certain school districts of maintenance and operations revenue in excess of the local share requirement.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2015-04-21 - Left pending in committee [HB2607 Detail]
Download: Texas-2015-HB2607-Introduced.html
| 84R13734 CAE-F | ||
| By: Lozano | H.B. No. 2607 | |
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| relating to treatment under the school finance system for certain | ||
| school districts of maintenance and operations revenue in excess of | ||
| the local share requirement. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 42.2516, Education Code, is amended by | ||
| adding Subsections (j) and (k) to read as follows: | ||
| (j) Notwithstanding any other provision of this code and as | ||
| provided by Subsection (k), for purposes of Chapter 46 tax revenue | ||
| collected from a maintenance and operations tax rate specified in | ||
| Subsection (b) in excess of the amount of the local share required | ||
| under Section 42.252 is not considered to have generated financial | ||
| assistance under this section and is eligible to be included in the | ||
| amount budgeted by a district for payment of eligible bonds under | ||
| Section 46.032(c). | ||
| (k) Subsection (j) applies to the determination of a school | ||
| district's instructional facilities allotment or existing debt | ||
| allotment under Chapter 46 for the 2006-2007 school year or later. | ||
| SECTION 2. This Act takes effect immediately if it receives | ||
| a vote of two-thirds of all the members elected to each house, as | ||
| provided by Section 39, Article III, Texas Constitution. If this | ||
| Act does not receive the vote necessary for immediate effect, this | ||
| Act takes effect September 1, 2015. | ||
