By: Smithee H.B. No. 2488
A BILL TO BE ENTITLED
AN ACT
relating to the limitation on the amount of supplemental payments
under the Texas Economic Development Act.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 313.027(i), Tax Code, is amended to read
as follows:
(i) A person and the school district may not enter into an
agreement under which the person agrees to provide supplemental
payments to a school district or any other entity on behalf of a
school district in an amount that exceeds an amount equal to the
greater of $100 per student per year in average daily attendance, as
defined by Section 42.005, Education Code, or $75,000 [$50,000] per
year, or for a period that exceeds the period beginning with the
period described by Section 313.021(4) and ending December 31 of
the third tax year after the date the person's eligibility for a
limitation under this chapter expires. This limit does not apply to
amounts described by Subsection (f)(1) or (2).
SECTION 2. The change in law under this Act applies only to
an application filed under Chapter 313, Tax Code, on or after the
effective date of this Act. An application filed under that chapter
before the effective date of this Act is governed by the law in
effect on the date the application was filed, and the former law is
continued in effect for that purpose.
SECTION 3. This Act takes effect September 1, 2015.