Relating to an adjustment under the public school finance system for optional homestead exemptions.
Impact
If enacted, HB2706 would specifically impact financial provisions related to public education in Texas, particularly concerning how state funding is disbursed based on taxable property values. The proposed changes would influence the decisions made by the commissioner of education regarding the funding available for school districts that utilize homestead exemptions. This could lead to a more predictable funding environment but may also alter the income that districts receive based on exemptions offered to homeowners.
Summary
House Bill 2706, titled 'An Act relating to an adjustment under the public school finance system for optional homestead exemptions,' seeks to modify how funding under the public school finance system is determined in relation to property taxes and homestead exemptions. The bill proposes amendments to Sections 42.2522 of the Education Code, specifying that state funding calculations should only consider school districts' taxable property values if adequate funds are appropriated. In essence, the bill aims to ensure that school districts are not unfairly disadvantaged in funding allocations due to optional homestead exemptions.
Contention
Notably, the bill may face criticism regarding its potential implications for school districts' finances, as adjustments in funding calculations could lead to disparities between districts with varying levels of reliance on homestead exemptions. Critics could argue that this approach may create inequities, particularly in districts that have opted for higher levels of property tax exemptions, thus impacting their overall funding and ability to provide essential educational services.
Last_action
The last action for HB2706 was recorded on March 28, 2017, when it was referred to the Public Education Committee, indicating that further discussions and evaluations were expected in the legislative process.
Relating to providing school district property tax relief through rent-relief and through adjusting entitlements, compression, and exemptions under the public school finance system.
Relating to providing property tax relief through the public school finance system, exemptions, limitations on appraisals and taxes, and property tax administration.
Relating to providing property tax relief through the public school finance system, exemptions, and limitations on taxes and providing franchise tax relief.
Relating to providing property tax relief through the public school finance system, exemptions, and limitations on taxes and providing franchise tax relief.
Relating to providing property tax relief through the public school finance system, exemptions, limitations on appraisals and taxes, and property tax administration; authorizing the imposition of a fee.
Relating to providing property tax relief through the public school finance system, exemptions, limitations on appraisals and taxes, and property tax administration; authorizing the imposition of a fee.
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.
Relating to the authority of the governing body of a taxing unit to adopt an exemption from ad valorem taxation of a portion, expressed as a dollar amount, of the appraised value of an individual's residence homestead.