Proposing a constitutional amendment appropriating certain surplus revenue for school district bond debt.
Impact
If enacted, HJR76 would introduce a new fiscal framework for school districts by prioritizing the use of granted funds for paying off high-interest bond debts. Furthermore, districts receiving these funds would be restricted from issuing additional bonds supported by ad valorem taxes for a period of ten years from the date of acceptance of the funds. This change would provide immediate financial relief for school districts and could potentially lead to improvements in their fiscal health, allowing schools to allocate more resources toward educational improvements rather than debt servicing.
Summary
HJR76 is a proposed constitutional amendment in Texas that aims to appropriate certain surplus revenue for the payment of school district bond debt. The resolution specifies that from the state fiscal year beginning September 1, 2026, a portion of the general revenue, along with funds from the economic stabilization fund, will be allocated to the Texas Education Agency. These funds are intended for distribution to school districts to help them manage the debt service on bonds backed by ad valorem taxes. The approach ensures that financial resources are directed towards supporting educational institutions in managing their debt.
Contention
While supporters of HJR76 argue that it is a significant step towards enhancing the financial stability of public schools, there are concerns regarding the long-term implications of such an amendment. Critics may voice apprehension about potential limitations imposed on local school districts, particularly the restriction on future bond issuance for a decade. This could hinder their ability to address evolving needs and fund necessary capital improvements. The expiration of the provision in 2039 also raises questions about the sustainability of the benefits gained through this financial support.
Proposing a constitutional amendment excepting certain appropriations to pay for school district ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.
Proposing a constitutional amendment excepting certain appropriations to pay for school district ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.
Proposing a constitutional amendment excepting certain appropriations to pay for school district ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.
Proposing a constitutional amendment to increase the amount of the exemption from ad valorem taxation by a school district applicable to residence homesteads, to adjust the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in certain exemption amounts, to provide supplemental payments to full-time classroom teachers in school districts, and to except certain appropriations to pay for school district ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.
Proposing a constitutional amendment lowering the maximum allowable amount of money in the economic stabilization fund and dedicating certain general revenue to reducing school district maintenance and operations ad valorem taxes.
Proposing a constitutional amendment to increase the amount of the exemption from ad valorem taxation by a school district applicable to residence homesteads, to adjust the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in certain exemption amounts, and to except certain appropriations to pay for school district ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.
Proposing a constitutional amendment to increase the amount of the exemption from ad valorem taxation by a school district applicable to residence homesteads, to adjust the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in certain exemption amounts, and to except certain appropriations to pay for school district ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.