By: Davis, Ellis S.B. No. 45
A BILL TO BE ENTITLED
AN ACT
relating to the use of certain funds to finance the instructional
facilities allotment and the existing debt allotment of public
schools.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subsection (a), Section 46.003, Education Code,
is amended to read as follows:
(a) For each year, except as provided by Sections 46.005 and
46.006, a school district is guaranteed a specified amount per
student in state and local funds for each cent of tax effort, up to
the maximum rate under Subsection (b), to pay the principal of and
interest on eligible bonds issued to construct, acquire, renovate,
or improve an instructional facility. The amount of state support
is determined by the formula:
FYA = (FYL X ADA X BTR X 100) - (BTR X (DPV/100))
where:
"FYA" is the guaranteed facilities yield amount of state
funds allocated to the district for the year;
"FYL" is the dollar amount guaranteed level of state and
local funds per student per cent of tax effort, which is $35 or:
(1) a greater amount for any year provided by
appropriation; or
(2) a greater amount to be financed through the
amounts in the foundation school fund required to be used for the
instructional facilities allotment by Section 49-g, Article III,
Texas Constitution;
"ADA" is the greater of the number of students in average
daily attendance, as determined under Section 42.005, in the
district or 400;
"BTR" is the district's bond tax rate for the current year,
which is determined by dividing the amount budgeted by the district
for payment of eligible bonds by the quotient of the district's
taxable value of property as determined under Subchapter M, Chapter
403, Government Code, or, if applicable, Section 42.2521, divided
by 100; and
"DPV" is the district's taxable value of property as
determined under Subchapter M, Chapter 403, Government Code, or, if
applicable, Section 42.2521.
SECTION 2. Subsection (a), Section 46.032, Education Code,
is amended to read as follows:
(a) Each school district is guaranteed a specified amount
per student in state and local funds for each cent of tax effort to
pay the principal of and interest on eligible bonds. The amount of
state support, subject only to the maximum amount under Section
46.034, is determined by the formula:
EDA = (EDGL X ADA X EDTR X 100) - (EDTR X (DPV/100))
where:
"EDA" is the amount of state funds to be allocated to the
district for assistance with existing debt;
"EDGL" is the dollar amount guaranteed level of state and
local funds per student per cent of tax effort, which is $35 or:
(1) a greater amount for any year provided by
appropriation; or
(2) a greater amount to be financed through the
amounts in the foundation school fund required to be used for the
existing debt allotment by Section 49-g, Article III, Texas
Constitution;
"ADA" is the number of students in average daily attendance,
as determined under Section 42.005, in the district;
"EDTR" is the existing debt tax rate of the district, which is
determined by dividing the amount budgeted by the district for
payment of eligible bonds by the quotient of the district's taxable
value of property as determined under Subchapter M, Chapter 403,
Government Code, or, if applicable, under Section 42.2521, divided
by 100; and
"DPV" is the district's taxable value of property as
determined under Subchapter M, Chapter 403, Government Code, or, if
applicable, under Section 42.2521.
SECTION 3. This Act takes effect January 1, 2014, but only
if the constitutional amendment proposed by the 83rd Legislature,
1st Called Session, 2013, requiring the transfer of funds dedicated
to the economic stabilization fund to the foundation school fund
for the benefit of school facilities is approved by the voters. If
that amendment is not approved by the voters, this Act has no
effect.