Relating to an allotment under the public school finance system for the cost of windstorm and hail insurance.
Impact
If enacted, HB 1875 would significantly impact the fiscal management of school districts in Texas by providing them with a designated source of funds for windstorm and hail insurance. This could lead to a more robust approach to risk management within the education sector. Furthermore, the allocation hinges on the availability of state funds, meaning that the effectiveness of this bill will depend on the financial health of the state and the budget appropriations made for this purpose.
Summary
House Bill 1875 introduces a financial allotment under the public school finance system specifically designed to cover the costs of windstorm and hail insurance for school districts. This bill aims to alleviate the financial burden on these districts, ensuring they are able to secure the necessary insurance to protect school property from storm-related damages. The provision states that a school district that contracts for such insurance is entitled to receive reimbursement, though the amount is capped by rules established by the commissioner of education.
Contention
While the bill is focused on providing funding assistance, potential points of contention may arise regarding the determination of what constitutes an appropriate level of funding and the rules applied by the commissioner. There may be opposition concerning whether the limit on the allotment amount is sufficient for all school districts, especially those in higher-risk areas prone to severe weather events. Additionally, discussions around budget priorities are likely, as there may be competing needs within the public education system that could be affected by focusing funds on insurance alone.
Identical
Relating to a report made by the Texas Education Agency regarding the property and casualty insurance costs of school districts and open-enrollment charter schools.
Relating to the basic allotment and guaranteed yield under the public school finance system, certain allotments under the Foundation School Program, determination of a school district's assets to liabilities ratio under the public school financial accountability rating system, and credit for prepayment of the amount required to be paid by a school district for the purchase of attendance credit under the public school finance system.
Relating to a local optional teacher designation system implemented by a school district, the basic allotment and guaranteed yield under the public school finance system, and certain allotments under the Foundation School Program; making an appropriation.
Relating to a local optional teacher designation system implemented by a school district, a security officer employed by a school district, the basic allotment and guaranteed yield under the public school finance system, and certain allotments under the Foundation School Program; making an appropriation.