Bill Text: TX HB4603 | 2019-2020 | 86th Legislature | Introduced

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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 and providing compensation for teachers, counselors, and librarians employed in public schools.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2019-03-26 - Referred to Appropriations [HB4603 Detail]

Download: Texas-2019-HB4603-Introduced.html

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By: Krause H.B. No. 4603

A BILL TO BE ENTITLED
AN ACT
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 and providing
compensation for teachers, counselors, and librarians employed in
public schools.
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 general
revenue fund in an amount equal one-half of the unencumbered
positive balance of general revenues on the last day of the
preceding state fiscal biennium; and
(2) 75 percent of the one-half of the unencumbered
positive balance of the general revenues may be used only to provide
ad valorem tax relief by reducing school district maintenance and
operations ad valorem tax rates; and
(3) 25 percent of the one-half of the unencumbered
positive balance of the general revenues may be used only to provide
compensation for teachers, counselors, and librarians employed in
public schools; and
(4) 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:
(1) providing property tax relief through reduction
other state compression percentage, as defined by Section
42.2516(a), Education Code.
(2) providing compensation for teachers, counselors,
and librarians employed in public schools.
SECTION 2. This Act applies beginning with the state fiscal
biennium beginning September 1, 2021.
SECTION 4. This Act takes effect January 1, 2020, but only
if the constitutional amendment proposed by the 86th Legislature,
Regular Session, 2019, limiting the rate of growth of
appropriations and the use of surplus state revenue to provide for
property tax relief and public school teacher compensation. If
that amendment is not approved by the voters, this Act has no
effect.