| 1 | 1 | | 81R5540 KKA-D |
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| 2 | 2 | | By: Kolkhorst H.B. No. 1273 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to reporting of and an adjustment under the school finance |
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| 8 | 8 | | system for benefits received by school districts or associated |
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| 9 | 9 | | foundations or other entities in connection with agreements under |
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| 10 | 10 | | the Texas Economic Development Act. |
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| 11 | 11 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 12 | 12 | | SECTION 1. Subchapter E, Chapter 42, Education Code, is |
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| 13 | 13 | | amended by adding Section 42.25151 to read as follows: |
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| 14 | 14 | | Sec. 42.25151. ADJUSTMENT FOR BENEFITS ASSOCIATED WITH |
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| 15 | 15 | | AGREEMENTS UNDER TEXAS ECONOMIC DEVELOPMENT ACT. (a) In this |
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| 16 | 16 | | section, "associated benefit" means a payment or other benefit |
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| 17 | 17 | | provided in connection with an agreement between a property owner |
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| 18 | 18 | | and a school district under Chapter 313, Tax Code, by or on behalf |
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| 19 | 19 | | of the property owner to: |
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| 20 | 20 | | (1) the district; or |
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| 21 | 21 | | (2) a foundation or other entity created to benefit |
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| 22 | 22 | | the district or the district's students. |
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| 23 | 23 | | (b) Notwithstanding Section 42.2516, the commissioner shall |
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| 24 | 24 | | for any school year: |
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| 25 | 25 | | (1) reduce the amounts due to a school district under |
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| 26 | 26 | | this chapter by an amount equal to the value of any associated |
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| 27 | 27 | | benefits received during that school year by the district or a |
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| 28 | 28 | | foundation or other entity created to benefit the district or the |
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| 29 | 29 | | district's students; or |
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| 30 | 30 | | (2) increase the amounts necessary for a school |
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| 31 | 31 | | district to comply with the requirements of Chapter 41 by an amount |
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| 32 | 32 | | equal to the value of any associated benefits received during that |
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| 33 | 33 | | school year by the district or a foundation or other entity created |
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| 34 | 34 | | to benefit the district or the district's students. |
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| 35 | 35 | | (c) A school district shall: |
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| 36 | 36 | | (1) report each associated benefit through the Public |
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| 37 | 37 | | Education Information Management System (PEIMS); and |
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| 38 | 38 | | (2) clearly identify each associated benefit in the |
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| 39 | 39 | | district's adopted budget and in the annual report required by |
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| 40 | 40 | | Section 44.007. |
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| 41 | 41 | | (d) The commissioner, in consultation with the comptroller, |
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| 42 | 42 | | as appropriate, may adopt rules necessary to implement this |
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| 43 | 43 | | section. |
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| 44 | 44 | | SECTION 2. This Act takes effect September 1, 2009. |
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