| 1 | 1 | | By: King of Hemphill H.B. No. 3251 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | A BILL TO BE ENTITLED |
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| 5 | 5 | | AN ACT |
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| 6 | 6 | | relating to the adjustment for rapid decline in taxable value of |
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| 7 | 7 | | property for school districts. |
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| 8 | 8 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 9 | 9 | | SECTION 1. Sec. 42.2521. ADJUSTMENT FOR RAPID DECLINE IN |
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| 10 | 10 | | TAXABLE VALUE OF PROPERTY. (a) For purposes of Chapters 41 and 46 |
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| 11 | 11 | | and this chapter, and to the extent money specifically authorized |
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| 12 | 12 | | to be used under this section is available, |
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| 13 | 13 | | adjust the taxable value of property in a school district that, due |
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| 14 | 14 | | to factors beyond the control of the board of trustees, experiences |
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| 15 | 15 | | a rapid decline in the tax base used in calculating taxable values |
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| 16 | 16 | | in excess of four percent of the tax base used in the preceding |
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| 17 | 17 | | year. |
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| 18 | 18 | | (b) To the extent that a sufficient amount of money is not |
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| 19 | 19 | | available to fund all adjustments under this section, the |
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| 20 | 20 | | commissioner shall reduce adjustments in the manner provided by |
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| 21 | 21 | | Section 42.253(h) so that the total amount of adjustments equals |
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| 22 | 22 | | the amount of money available to fund the adjustments. |
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| 23 | 23 | | (c) A decision of the commissioner under this section is |
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| 24 | 24 | | final and may not be appealed. |
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| 25 | 25 | | SECTION 2. This Act applies beginning with the 2017-2018 |
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| 26 | 26 | | school year. |
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| 27 | 27 | | SECTION 3. This Act takes effect immediately if it receives |
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| 28 | 28 | | a vote of two-thirds of all the members elected to each house, as |
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| 29 | 29 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 30 | 30 | | Act does not receive the vote necessary for immediate effect, this |
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| 31 | 31 | | Act takes effect September 1, 2017. |
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