By: King of Hemphill H.B. No. 3251
A BILL TO BE ENTITLED
AN ACT
relating to the adjustment for rapid decline in taxable value of
property for school districts.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sec. 42.2521. ADJUSTMENT FOR RAPID DECLINE IN
TAXABLE VALUE OF PROPERTY. (a) For purposes of Chapters 41 and 46
and this chapter, and to the extent money specifically authorized
to be used under this section is available,
adjust the taxable value of property in a school district that, due
to factors beyond the control of the board of trustees, experiences
a rapid decline in the tax base used in calculating taxable values
in excess of four percent of the tax base used in the preceding
year.
(b) To the extent that a sufficient amount of money is not
available to fund all adjustments under this section, the
commissioner shall reduce adjustments in the manner provided by
Section 42.253(h) so that the total amount of adjustments equals
the amount of money available to fund the adjustments.
(c) A decision of the commissioner under this section is
final and may not be appealed.
SECTION 2. This Act applies beginning with the 2017-2018
school year.
SECTION 3. 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, 2017.