Texas 2023 - 88th Regular

Texas House Bill HB4429

Filed
3/9/23  
Out of House Committee
5/5/23  
Voted on by Senate
 
Governor Action
 
Bill Becomes Law
 

Caption

Relating to the duty of a school district to enter into an ad valorem tax abatement agreement under the Property Redevelopment and Tax Abatement Act for certain property.

Impact

If passed, HB 4429 would significantly modify existing laws governing education finance in the state, leading to an increase in state funding allocated to schools that currently lack adequate resources. This adjustment is expected to affect curriculum quality and availability, teacher salaries, and student access to important educational programs. The bill's framework seeks to create a more balanced distribution of educational resources across all districts, directly influencing the quality of education provided to students state-wide.

Summary

House Bill 4429 aims to reform the education funding mechanism within the state to provide more equitable access to resources for public schools. The bill proposes a new formula that takes into consideration various socioeconomic factors to ensure that underfunded districts receive additional support. Proponents argue that this measure will help raise overall educational outcomes and close the achievement gap between affluent and disadvantaged districts.

Sentiment

The sentiment surrounding HB 4429 is largely supportive among educators and advocacy groups which view the bill as a necessary step towards equitable education. They argue that the bill addresses systemic inequalities in funding that have persisted for years. Conversely, some opposition arises from fiscal conservatives who are concerned about the long-term financial implications of the new funding formula, fearing it could strain the state's budget and lead to increased taxes.

Contention

Notable points of contention include debates over how the new funding formula would be implemented and the metrics used to assess equity in funding. Some lawmakers have expressed concerns regarding potential disparities that could arise even with the new system and have called for additional safeguards to ensure fair distribution of funds. There is also apprehension among certain stakeholders about how the new law would affect charter schools and alternative education programs, leading to concerns that existing models may not receive expected support or could face significant changes.

Texas Constitutional Statutes Affected

Tax Code

  • Chapter 312. Property Redevelopment And Tax Abatement Act
    • Section: 002
    • Section: 0025
    • Section: New Section
    • Section: 002
    • Section: 0025
    • Section: New Section
    • Section: 004
    • Section: 0025
    • Section: New Section

Government Code

  • Chapter 403. Comptroller Of Public Accounts
    • Section: 302
    • Section: 302
    • Section: 302

Companion Bills

TX SB2153

Identical Relating to certain school district tax abatements for power system reliability projects.

Similar Bills

TX SB1947

Relating to the authority of two or more municipalities to designate a joint tax increment financing reinvestment zone.

TX SB313

Relating to the term of a reinvestment zone and to the assessment and payment of tax increments under the Tax Increment Financing Act.

TX HB3484

Relating to certain acts and proceedings of certain local governments, including those related to tax increment financing, and the validity of certain acts and proceedings.

TX HB4726

Relating to the creation of the Cameron County Flood Control District; granting a limited power of eminent domain; providing authority to impose assessments, fees, and taxes and to issue bonds.

TX HB4613

Relating to the creation, operations and financing of tax increment reinvestment zones.

TX HB2853

Relating to tax increment financing.

TX HB1853

Relating to the authorization of school district ad valorem tax incentives for historic redevelopment and economic development.

TX SB2153

Relating to certain school district tax abatements for power system reliability projects.