85S10642 MK-D
By: Meyer H.B. No. 370
A BILL TO BE ENTITLED
AN ACT
relating to the creation of the attendance credit receipts fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 41.094(b), Education Code, is amended to
read as follows:
(b) Receipts shall be deposited in the state treasury to the
credit of the attendance credit receipts fund under Section 41.0941
[and may be used only for foundation school program purposes].
SECTION 2. Subchapter D, Chapter 41, Education Code, is
amended by adding Section 41.0941 to read as follows:
Sec. 41.0941. ATTENDANCE CREDIT RECEIPTS FUND. (a) The
attendance credit receipts fund is created as a fund in the state
treasury, administered by the comptroller.
(b) The attendance credit receipts fund shall consist of
payments made by school districts under Section 41.094 for the
purchase of attendance credits under this subchapter.
(c) Money deposited to the attendance credit receipts fund
may only be used for foundation school program purposes.
SECTION 3. As soon as practicable after the effective date
of this Act, the comptroller shall transfer from the general
revenue fund to the attendance credit receipts fund created under
Section 41.0941, Education Code, as added by this Act, any funds
received from the purchase of attendance credits by a school
district under Section 41.094, Education Code, before the effective
date of this Act.
SECTION 4. This Act takes effect December 1, 2017.