Texas 2009 - 81st Regular

Texas Senate Bill SB2374 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	By: Van de Putte S.B. No. 2374
2	2
3	3
4	4	A BILL TO BE ENTITLED
5	5	AN ACT
6	6	relating to state assistance to fund public school instructional
7	7	facilities in fast-growing school districts.
8	8	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
9	9	SECTION 1. Section 46.003(a), Education Code, is amended to
10	10	read as follows:
11	11	(a) For each year, except as provided by Sections 46.005 and
12	12	46.006, a school district is guaranteed a specified amount per
13	13	student in state and local funds for each cent of tax effort, up to
14	14	the maximum rate under Subsection (b), to pay the principal of and
15	15	interest on eligible bonds issued to construct, acquire, renovate,
16	16	or improve an instructional facility. The amount of state support
17	17	is determined by the formula:
18	18	FYA = (FYL X ADA X BTR X 100) - (BTR X (DPV/100))
19	19	where:
20	20	"FYA" is the guaranteed facilities yield amount of state
21	21	funds allocated to the district for the year;
22	22	"FYL" is the dollar amount guaranteed level of state and
23	23	local funds per student per cent of tax effort, which is $35 or a
24	24	greater amount for any year provided by appropriation or provided
25	25	for under Section 46.0031;
26	26	"ADA" is the greater of the number of students in average
27	27	daily attendance, as determined under Section 42.005, in the
28	28	district or 400;
29	29	"BTR" is the district's bond tax rate for the current year,
30	30	which is determined by dividing the amount budgeted by the district
31	31	for payment of eligible bonds by the quotient of the district's
32	32	taxable value of property as determined under Subchapter M, Chapter
33	33	403, Government Code, or, if applicable, Section 42.2521, divided
34	34	by 100; and
35	35	"DPV" is the district's taxable value of property as
36	36	determined under Subchapter M, Chapter 403, Government Code, or, if
37	37	applicable, Section 42.2521.
38	38	SECTION 2. Subchapter A, Chapter 46, Education Code, is
39	39	amended by adding Section 46.0031 to read as follows:
40	40	Sec. 46.0031. INCREASED ALLOTMENT AMOUNT FOR INSTRUCTIONAL
41	41	FACILITIES IN FAST-GROWING SCHOOL DISTRICTS. (a) This section
42	42	applies to state support to pay the principal and interest only on
43	43	eligible bonds as provided by Section 46.0031(d) that are issued by
44	44	fast-growing school districts.
45	45	(b) For the purposes of this section, a fast-growing school
46	46	district is a school district that has enrollment growth of 10
47	47	percent or more over the preceding five-year period.
48	48	(c) For a bond issue to which this section applies, the
49	49	dollar amount guaranteed level of state and local funds per student
50	50	per cent of tax effort ("FYL") is an amount equal to $50 or a greater
51	51	amount for any year provided by appropriation.
52	52	(d) Bonds are eligible to be paid with state and local funds
53	53	under this subchapter if:
54	54	(1) a school district is classified as fast-growing
55	55	under Subsection (b); and
56	56	(2) a school district applies in the 2008-09 school
57	57	year or subsequent school years to the commissioner in accordance
58	58	with rules adopted by the commissioner before issuing bonds that
59	59	will be paid with state assistance; and
60	60	(3) the district does not receive state assistance
61	61	under Subchapter B for payment of the principal and interest on the
62	62	bonds.
63	63	(e) A school district may use state funds received under
64	64	this section to pay the principal of and interest on refunding bonds
65	65	that were issued under the provisions of this section.
66	66	(f) Once bonds are determined to be eligible under this
67	67	section, a school district receives funding under Section remains
68	68	eligible for that funding level regardless of whether the school
69	69	district continues to meet the requirements of subsection (b).
70	70	SECTION 3. Section 46.032(a), Education Code, is amended to
71	71	read as follows:
72	72	(a) Each school district is guaranteed a specified amount
73	73	per student in state and local funds for each cent of tax effort to
74	74	pay the principal of and interest on eligible bonds. The amount of
75	75	state support, subject only to the maximum amount under Section
76	76	46.034, is determined by the formula:
77	77	EDA = (EDGL X ADA X EDTR X 100) - (EDTR X (DPV/100))
78	78	where:
79	79	"EDA" is the amount of state funds to be allocated to the
80	80	district for assistance with existing debt;
81	81	"EDGL" is the dollar amount guaranteed level of state and
82	82	local funds per student per cent of tax effort, which is $35 or a
83	83	greater amount for any year provided by appropriation or provided
84	84	for under Section 46.0321;
85	85	"ADA" is the number of students in average daily attendance,
86	86	as determined under Section 42.005, in the district;
87	87	"EDTR" is the existing debt tax rate of the district, which is
88	88	determined by dividing the amount budgeted by the district for
89	89	payment of eligible bonds by the quotient of the district's taxable
90	90	value of property as determined under Subchapter M, Chapter 403,
91	91	Government Code, or, if applicable, under Section 42.2521, divided
92	92	by 100; and
93	93	"DPV" is the district's taxable value of property as
94	94	determined under Subchapter M, Chapter 403, Government Code, or, if
95	95	applicable, under Section 42.2521.
96	96	SECTION 4. Subchapter B, Chapter 46, Education Code, is
97	97	amended by adding Section 46.0321 to read as follows:
98	98	Sec. 46.0321. INCREASED ASSISTANCE FOR EXISTING DEBT IN
99	99	FAST-GROWING SCHOOL DISTRICTS. (a) This section applies to state
100	100	support to pay the principal and interest only on eligible bonds as
101	101	provided by Section 46.0031(d) issued by fast-growing school
102	102	districts.
103	103	(b) For the purposes of this section, a fast-growing school
104	104	district is a school district that has enrollment growth of 10
105	105	percent or more over the preceding five-year period.
106	106	(c) For eligible debt to which this section applies, the
107	107	dollar amount guaranteed level of state and local funds per student
108	108	per cent of tax effort ("FYL") under Section 46.032(a) is an amount
109	109	equal to $50 or a greater amount for any year provided by
110	110	appropriation.
111	111	(d) Bonds are eligible to be paid with state and local funds
112	112	under this subchapter if:
113	113	(1) the district made payments on the bonds during the
114	114	2008-09 school year or subsequent school years or taxes levied to
115	115	pay the principal of and interest on the bonds were included in the
116	116	district's audited debt service collections for that school year or
117	117	subsequent school years; and
118	118	(2) the district does not receive state assistance
119	119	under Subchapter A for payment of the principal and interest on the
120	120	bonds.
121	121	(e) A school district may use state funds received under
122	122	this section to pay the principal of and interest on refunding bonds
123	123	for bonds that were initially eligible under the provisions of this
124	124	section.
125	125	(f) Once bonds are determined to be eligible under this
126	126	section, a school district receives funding under this section
127	127	remains eligible for that funding level regardless of whether the
128	128	school district continues to meet the requirements of subsection
129	129	(b).
130	130	SECTION 5. Section 46.033, Education Code, is amended to
131	131	read as follows:
132	132	Sec. 46.033. ELIGIBLE BONDS. Bonds, including bonds
133	133	issued under Section 45.006, are eligible to be paid with state and
134	134	local funds under this subchapter if:
135	135	(1) the district made payments on the bonds during the
136	136	[2006-2007]second school year of the previous state biennium or
137	137	taxes levied to pay the principal of and interest on the bonds were
138	138	included in the district's audited debt service collections for
139	139	that school year; and
140	140	(2) the district does not receive state assistance
141	141	under Subchapter A for payment of the principal and interest on the
142	142	bonds.
143	143	SECTION 6. Section 46.034(a), Education Code, is amended to
144	144	read as follows:
145	145	Sec. 46.034. LIMITS ON ASSISTANCE. (a) The existing debt
146	146	tax rate ("EDTR") under Section 46.032 may not exceed [$0.29] $0.50
147	147	per $100 of valuation, or a greater amount for any year provided by
148	148	appropriation.
149	149	SECTION 7. This Act takes effect September 1, 2009.