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