| 1 | | - | By: Campbell, Huffines S.B. No. 457 |
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| 2 | | - | (In the Senate - Filed January 11, 2017; February 6, 2017, |
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| 3 | | - | read first time and referred to Committee on Education; |
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| 4 | | - | April 24, 2017, reported adversely, with favorable Committee |
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| 5 | | - | Substitute by the following vote: Yeas 7, Nays 4; April 24, 2017, |
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| 6 | | - | sent to printer.) |
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| 7 | | - | Click here to see the committee vote |
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| 8 | | - | COMMITTEE SUBSTITUTE FOR S.B. No. 457 By: Campbell |
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| 1 | + | By: Campbell, Bettencourt S.B. No. 457 |
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| 14 | 7 | | the guaranteed level of state and local funds provided to school |
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| 15 | 8 | | districts through the existing debt allotment. |
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| 16 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 17 | 10 | | SECTION 1. Section 12.106, Education Code, is amended by |
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| 18 | 11 | | adding Subsection (d) to read as follows: |
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| 19 | 12 | | (d) In addition to other amounts provided by this section, a |
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| 20 | 13 | | charter holder is entitled to receive, for the open-enrollment |
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| 21 | 14 | | charter school, funding per student in average daily attendance in |
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| 22 | 15 | | an amount equal to the guaranteed level of state and local funds per |
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| 23 | 16 | | student per cent of tax effort under Section 46.032(a) multiplied |
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| 24 | | - | by the state average interest and sinking fund tax rate imposed by |
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| 25 | | - | school districts for the current year. |
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| 26 | | - | SECTION 2. This Act takes effect only if a specific |
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| 17 | + | by the lesser of: |
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| 18 | + | (1) the state average interest and sinking fund tax |
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| 19 | + | rate imposed by school districts for the current year; or |
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| 20 | + | (2) a rate that would result in the total |
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| 21 | + | appropriation under this subsection to be $100,000,000, which is to |
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| 22 | + | be split equally between charter schools and school districts. |
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| 23 | + | SECTION 2. Section 46.032(a), Education Code, is amended to |
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| 24 | + | read as follows: |
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| 25 | + | (a) Each school district is guaranteed a specified amount |
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| 26 | + | per student in state and local funds for each cent of tax effort to |
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| 27 | + | pay the principal of and interest on eligible bonds. The amount of |
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| 28 | + | state support, subject only to the maximum amount under Section |
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| 29 | + | 46.034, is determined by the formula: |
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| 30 | + | EDA = (EDGL X ADA X EDTR X 100) - (EDTR X (DPV/100)) |
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| 31 | + | where: |
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| 32 | + | "EDA" is the amount of state funds to be allocated to the |
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| 33 | + | district for assistance with existing debt; |
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| 34 | + | "EDGL" is the dollar amount guaranteed level of state and |
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| 35 | + | local funds per student per cent of tax effort, which is $40 [$35] |
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| 36 | + | or a greater amount for any year provided by appropriation; |
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| 37 | + | "ADA" is the number of students in average daily attendance, |
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| 38 | + | as determined under Section 42.005, in the district; |
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| 39 | + | "EDTR" is the existing debt tax rate of the district, which is |
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| 40 | + | determined by dividing the amount budgeted by the district for |
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| 41 | + | payment of eligible bonds by the quotient of the district's taxable |
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| 42 | + | value of property as determined under Subchapter M, Chapter 403, |
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| 43 | + | Government Code, or, if applicable, under Section 42.2521, divided |
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| 44 | + | by 100; and |
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| 45 | + | "DPV" is the district's taxable value of property as |
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| 46 | + | determined under Subchapter M, Chapter 403, Government Code, or, if |
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| 47 | + | applicable, under Section 42.2521. |
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| 48 | + | SECTION 3. This Act takes effect only if a specific |
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