Texas 2015 - 84th Regular

Texas House Bill HB2765 Compare Versions

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1	1	By: Lucio III H.B. No. 2765
2	2
3	3
4	4	A BILL TO BE ENTITLED
5	5	AN ACT
6	6	relating to property tax relief, the school facilities allotment
7	7	and the existing debt allotment under the Foundation School
8	8	Program.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. Section 46.003(a), Education Code, is amended to
11	11	read as follows:
12	12	Sec. 46.003. SCHOOL FACILITIES ALLOTMENT. (a) For each
13	13	year, except as provided by Sections 46.005 and 46.006, a school
14	14	district is guaranteed a specified amount [per student] in state
15	15	and local funds [for each cent of tax effort, up to the maximum rate
16	16	under Subsection (b),] to pay the principal of and interest on
17	17	eligible bonds issued to construct, acquire, renovate, or improve
18	18	an instructional facility. The amount of state support is
19	19	determined by the formula:
20	20	FYA = EBP X (1 - (DYL/FYL)
21	21	[FYA = (FYL X ADA X BTR X 100) - (BTR X (DPV/100))]
22	22	where:
23	23	"FYA" is the guaranteed facilities yield amount of state
24	24	funds allocated to the district for the year;
25	25	"FYL" is the dollar amount guaranteed level of state and
26	26	local funds per student per cent of tax effort, which is $35 or a
27	27	greater amount for any year provided by appropriation;
28	28	"ADA" is the greater of the number of students in average
29	29	daily attendance, as determined under Section 42.005, in the
30	30	district or 400;
31	31	"EBP" ["BTR"] is the [district's bond tax rate for the
32	32	current year, which is determined by dividing the] amount budgeted
33	33	by the district for payment of eligible bonds [by the quotient of
34	34	the district's taxable value of property as determined under
35	35	Subchapter M, Chapter 403, Government Code, or, if applicable,
36	36	under Section 42.2521, divided by 100]; and
37	37	"DYL" ["DPV"] is the district's yield per penny per student
38	38	which is determined by dividing the taxable value of property as
39	39	determined under Subchapter M, Chapter 403, Government Code, or, if
40	40	applicable, Section 42.2521, by the product of the district's ADA
41	41	and 10,000.
42	42	SECTION 2. Section 46.032(a), Education Code, is amended to
43	43	read as follows:
44	44	Sec. 46.032. ALLOTMENT. (a) Each school district is
45	45	guaranteed a specified amount per student in state and local funds
46	46	for each cent of tax effort to pay the principal of and interest on
47	47	eligible bonds. The amount of state support, subject only to the
48	48	maximum amount under Section 46.034, is determined by the formula:
49	49	EDA = EDBP X (1 - (DYL/EDGL)
50	50	[EDA = (EDGL X ADA X EDTR X 100) - (EDTR X (DPV/100))]
51	51	where:
52	52	"EDA" is the amount of state funds to be allocated to the
53	53	district for assistance with existing debt;
54	54	"EDGL" is the dollar amount guaranteed level of state and
55	55	local funds per student per cent of tax effort, which is $35 or a
56	56	greater amount for any year provided by appropriation;
57	57	"ADA" is the number of students in average daily attendance,
58	58	as determined under Section 42.005, in the district;
59	59	"EDBP" ["EDTR"] is the [existing debt tax rate of the
60	60	district, which is determined by dividing the] amount budgeted by
61	61	the district for payment of eligible bonds by the quotient of the
62	62	district's taxable value of property as determined under Subchapter
63	63	M, Chapter 403, Government Code, or, if applicable, under Section
64	64	42.2521, divided by 100]; and
65	65	"DYL" ["DPV"] is the district's yield per penny per student
66	66	which is determined by dividing the taxable value of property as
67	67	determined under Subchapter M, Chapter 403, Government Code, or, if
68	68	applicable, Section 42.2521, by the product of the district's ADA
69	69	and 10,000.
70	70	SECTION 3. Section 46.034(c), Education Code, is amended to
71	71	read as follows:
72	72	(c) If the amount required to pay the principal of and
73	73	interest on eligible bonds in a school year is less than the amount
74	74	of payments made by the district on the bonds during the final
75	75	school
76	76	year of the preceding state fiscal biennium or the
77	77	district's audited debt service collections for that school year,
78	78	the district may not receive aid in excess of the amount that, when
79	79	added to the district's local revenue for the school year, equals
80	80	the amount required to pay the principal of and interest on the
81	81	bonds.
82	82	SECTION 4. The following provisions of the Education Code
83	83	are repealed:
84	84	(1) Sections 46.003(b), (c) and (d);
85	85	(2) Sections 46.032(b), (c) and (d); and
86	86	(3) Sections 46.034(a), (b) and (b-1).
87	87	SECTION 5. A school district must use all revenues derived
88	88	from the changes to Chapter 46, Education Code, provided by this Act
89	89	to reduce the district's tax rate for bonded indebtedness or to
90	90	reduce the maturity of previously issued bonds. The commissioner
91	91	shall adopt rules regarding the operation and enforcement of this
92	92	provision.
93	93	SECTION 6. This Act takes effect immediately if it receives
94	94	a vote of two-thirds of all the members elected to each house, as
95	95	provided by Section 39, Article III, Texas Constitution. If this
96	96	Act does not receive the vote necessary for immediate effect, this
97	97	Act takes effect September 1, 2015.