| 1 | 1 | | By: Meyer H.B. No. 4452 |
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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 creation of the attendance credit receipts fund. |
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| 7 | 7 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 8 | 8 | | SECTION 1. Section 49.154(b), Education Code, is amended to |
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| 9 | 9 | | read as follows: |
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| 10 | 10 | | (b) Receipts shall be deposited in the state treasury to the |
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| 11 | 11 | | credit of the attendance credit receipts fund under Section 49.1541 |
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| 12 | 12 | | [and may be used only for foundation school program purposes]. |
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| 13 | 13 | | SECTION 2. Subchapter D, Chapter 49, Education Code, is |
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| 14 | 14 | | amended by adding Section 49.1541 to read as follows: |
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| 15 | 15 | | Sec. 49.1541. ATTENDANCE CREDIT RECEIPTS FUND. (a) The |
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| 16 | 16 | | attendance credit receipts fund is created as a fund in the state |
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| 17 | 17 | | treasury, administered by the comptroller. |
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| 18 | 18 | | (b) The attendance credit receipts fund shall consist of |
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| 19 | 19 | | payments made by school districts under Section 49.154 for the |
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| 20 | 20 | | purchase of attendance credits under this subchapter. |
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| 21 | 21 | | (c) Money deposited to the attendance credit receipts fund |
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| 22 | 22 | | may only be used for foundation school program purposes. |
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| 23 | 23 | | SECTION 3. As soon as practicable after the effective date |
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| 24 | 24 | | of this Act, the comptroller shall transfer from the general |
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| 25 | 25 | | revenue fund to the attendance credit receipts fund created under |
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| 26 | 26 | | Section 49.1541, Education Code, as added by this Act, any funds |
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| 27 | 27 | | received from the purchase of attendance credits by a school |
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| 28 | 28 | | district under Section 49.154, Education Code, before the effective |
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| 29 | 29 | | date of this Act. |
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| 30 | 30 | | SECTION 4. This Act takes effect December 1, 2021. |
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