84R2024 JSL-D
By: Watson S.B. No. 247
A BILL TO BE ENTITLED
AN ACT
relating to the equalized wealth level and the guaranteed yield
under the public school finance system.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 41.002(a), Education Code, is amended to
read as follows:
(a) A school district may not have a wealth per student that
exceeds:
(1) the wealth per student that generates the amount
of maintenance and operations tax revenue per weighted student
available to a district with maintenance and operations tax revenue
per cent of tax effort equal to the maximum amount provided per cent
under Section 42.101(a) or (b), for the district's maintenance and
operations tax effort equal to or less than the rate equal to the
product of the state compression percentage, as determined under
Section 42.2516, multiplied by the maintenance and operations tax
rate adopted by the district for the 2005 tax year;
(2) the wealth per student that generates the amount
of maintenance and operations tax revenue per weighted student
available to the Austin Independent School District, as determined
by the commissioner in cooperation with the Legislative Budget
Board, for the first six cents by which the district's maintenance
and operations tax rate exceeds the rate equal to the product of the
state compression percentage, as determined under Section 42.2516,
multiplied by the maintenance and operations tax rate adopted by
the district for the 2005 tax year, subject to Section 41.093(b-1);
or
(3) the wealth per student specified under Subdivision
(1) [$319,500], for the district's maintenance and operations tax
effort that exceeds the first six cents by which the district's
maintenance and operations tax effort exceeds the rate equal to the
product of the state compression percentage, as determined under
Section 42.2516, multiplied by the maintenance and operations tax
rate adopted by the district for the 2005 tax year.
SECTION 2. Section 42.302(a-1), Education Code, is amended
to read as follows:
(a-1) In this section, "wealth per student" has the meaning
assigned by Section 41.001. For purposes of Subsection (a), the
dollar amount guaranteed level of state and local funds per
weighted student per cent of tax effort ("GL") for a school district
is:
(1) the greater of the amount of district tax revenue
per weighted student per cent of tax effort that would be available
to the Austin Independent School District, as determined by the
commissioner in cooperation with the Legislative Budget Board, if
the reduction of the limitation on tax increases as provided by
Section 11.26(a-1), (a-2), or (a-3), Tax Code, did not apply, or the
amount of district tax revenue per weighted student per cent of tax
effort used for purposes of this subdivision in the preceding
school year, for the first six cents by which the district's
maintenance and operations tax rate exceeds the rate equal to the
product of the state compression percentage, as determined under
Section 42.2516, multiplied by the maintenance and operations tax
rate adopted by the district for the 2005 tax year; and
(2) the amount of district tax revenue per weighted
student per cent of tax effort available to a district with
maintenance and operations tax revenue per cent of tax effort equal
to the maximum amount provided per cent under Section 42.101(a) or
(b) [$31.95], for the district's maintenance and operations tax
effort that exceeds the amount of tax effort described by
Subdivision (1).
SECTION 3. This Act takes effect September 1, 2015.