| 1 | 1 | | 87S10873 KJE-D |
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| 2 | 2 | | By: Bell of Montgomery H.B. No. 292 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the allocation and deposit of certain surplus state |
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| 8 | 8 | | revenue to the property tax relief fund for use in reducing school |
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| 9 | 9 | | district maintenance and operations ad valorem taxes. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Section 403.109, Government Code, is amended by |
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| 12 | 12 | | adding Subsections (e) and (f) to read as follows: |
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| 13 | 13 | | (e) Not later than the 90th day after the last day of each |
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| 14 | 14 | | state fiscal biennium, the comptroller shall deposit to the credit |
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| 15 | 15 | | of the fund general revenue in an amount equal to one-half of the |
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| 16 | 16 | | amount by which the total available general revenue for that |
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| 17 | 17 | | biennium at the end of the biennium exceeds the amount of total |
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| 18 | 18 | | available general revenue stated in the comptroller's biennial |
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| 19 | 19 | | revenue estimate for that biennium. |
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| 20 | 20 | | (f) Notwithstanding any other provision of this section, |
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| 21 | 21 | | money deposited to the credit of the fund under Subsection (e) may |
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| 22 | 22 | | be appropriated only to the Texas Education Agency for use in |
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| 23 | 23 | | providing property tax relief through reduction of the state |
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| 24 | 24 | | compression percentage, as defined by Section 48.255, Education |
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| 25 | 25 | | Code. |
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| 26 | 26 | | SECTION 2. This Act applies beginning with the state fiscal |
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| 27 | 27 | | biennium beginning September 1, 2023. |
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| 28 | 28 | | SECTION 3. This Act takes effect on the 91st day after the |
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| 29 | 29 | | last day of the legislative session. |
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