84R13734 CAE-F
By: Lozano H.B. No. 2607
A BILL TO BE ENTITLED
AN ACT
relating to treatment under the school finance system for certain
school districts of maintenance and operations revenue in excess of
the local share requirement.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 42.2516, Education Code, is amended by
adding Subsections (j) and (k) to read as follows:
(j) Notwithstanding any other provision of this code and as
provided by Subsection (k), for purposes of Chapter 46 tax revenue
collected from a maintenance and operations tax rate specified in
Subsection (b) in excess of the amount of the local share required
under Section 42.252 is not considered to have generated financial
assistance under this section and is eligible to be included in the
amount budgeted by a district for payment of eligible bonds under
Section 46.032(c).
(k) Subsection (j) applies to the determination of a school
district's instructional facilities allotment or existing debt
allotment under Chapter 46 for the 2006-2007 school year or later.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2015.