85S10885 KJE-D By: Bernal H.B. No. 256 A BILL TO BE ENTITLED AN ACT relating to the Legislative Budget Board's report on equalized funding elements under the public school finance system. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Sections 42.007(a) and (b), Education Code, are amended to read as follows: (a) The Legislative Budget Board shall adopt rules, subject to appropriate notice and opportunity for public comment, for the calculation for each year of a biennium of the qualified funding elements, in accordance with Subsection (c), necessary to: (1) achieve the state policy under Section 42.001; and (2) enable each student to achieve satisfactory performance on each assessment instrument required under Section 39.023. (b) Before each regular session of the legislature, the board shall submit [, as determined by the board, report the equalized funding elements] to the commissioner and the legislature a report on the board's recommendations regarding the equalized funding elements necessary to achieve the goals described by Subsection (a) for each year of the next state fiscal biennium. SECTION 2. As soon as practicable after the effective date of this Act, the Legislative Budget Board shall adopt the rules required under Section 42.007(a), Education Code, as amended by this Act. 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 on the 91st day after the last day of the legislative session.