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A BILL TO BE ENTITLED
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AN ACT
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relating to the guaranteed level of state and local funds for the |
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instructional facilities allotment and the existing debt allotment |
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under the public school finance system. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 46.003(a), Education Code, is amended to |
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read as follows: |
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(a) For each year, except as provided by Sections 46.005 and |
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46.006, a school district is guaranteed a specified amount per |
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student in state and local funds for each cent of tax effort, up to |
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the maximum rate under Subsection (b), to pay the principal of and |
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interest on eligible bonds issued to construct, acquire, renovate, |
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or improve an instructional facility. The amount of state support |
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is determined by the formula: |
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FYA = (FYL X ADA X BTR X 100) - (BTR X (DPV/100)) |
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where: |
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"FYA" is the guaranteed facilities yield amount of state |
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funds allocated to the district for the year; |
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"FYL" is the dollar amount guaranteed level of state and |
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local funds per student per cent of tax effort, which is $40 [$35] |
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or a greater amount for any year provided by appropriation; |
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"ADA" is the greater of the number of students in average |
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daily attendance, as determined under Section 42.005, in the |
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district or 400; |
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"BTR" is the district's bond tax rate for the current year, |
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which is determined by dividing the amount budgeted by the district |
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for payment of eligible bonds by the quotient of the district's |
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taxable value of property as determined under Subchapter M, Chapter |
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403, Government Code, or, if applicable, Section 42.2521, divided |
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by 100; and |
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"DPV" is the district's taxable value of property as |
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determined under Subchapter M, Chapter 403, Government Code, or, if |
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applicable, Section 42.2521. |
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SECTION 2. Section 46.032(a), Education Code, is amended to |
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read as follows: |
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(a) Each school district is guaranteed a specified amount |
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per student in state and local funds for each cent of tax effort to |
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pay the principal of and interest on eligible bonds. The amount of |
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state support, subject only to the maximum amount under Section |
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46.034, is determined by the formula: |
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EDA = (EDGL X ADA X EDTR X 100) - (EDTR X (DPV/100)) |
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where: |
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"EDA" is the amount of state funds to be allocated to the |
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district for assistance with existing debt; |
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"EDGL" is the dollar amount guaranteed level of state and |
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local funds per student per cent of tax effort, which is $40 [$35] |
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or a greater amount for any year provided by appropriation; |
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"ADA" is the number of students in average daily attendance, |
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as determined under Section 42.005, in the district; |
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"EDTR" is the existing debt tax rate of the district, which is |
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determined by dividing the amount budgeted by the district for |
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payment of eligible bonds by the quotient of the district's taxable |
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value of property as determined under Subchapter M, Chapter 403, |
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Government Code, or, if applicable, under Section 42.2521, divided |
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by 100; and |
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"DPV" is the district's taxable value of property as |
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determined under Subchapter M, Chapter 403, Government Code, or, if |
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applicable, under Section 42.2521. |
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SECTION 3. This Act takes effect September 1, 2015. |