| 1 | 1 | | By: Oliverson H.B. No. 19 |
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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 allocation and deposit of certain surplus state |
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| 7 | 7 | | revenue to the property tax relief fund for use in reducing school |
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| 8 | 8 | | district maintenance and operations ad valorem taxes. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 403.109, Government Code, is amended by |
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| 11 | 11 | | adding Subsections (e) and (f) to read as follows: |
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| 12 | 12 | | (e) The comptroller shall: |
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| 13 | 13 | | (1) allocate for deposit to the credit of the fund |
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| 14 | 14 | | general revenue in an amount equal to 90 percent of the amount by |
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| 15 | 15 | | which the amount of general revenue received in a state fiscal |
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| 16 | 16 | | biennium exceeds 104 percent of the total amount of general revenue |
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| 17 | 17 | | that was received during the preceding state fiscal biennium; and |
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| 18 | 18 | | (2) periodically deposit to the credit of the fund the |
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| 19 | 19 | | general revenue allocated under Subdivision (1), with the final |
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| 20 | 20 | | deposit for that biennium to be made not later than the 90th day of |
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| 21 | 21 | | the next state fiscal biennium. |
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| 22 | 22 | | (f) Notwithstanding any other provision of this section, |
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| 23 | 23 | | money deposited to the credit of the fund under Subsection (e) may |
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| 24 | 24 | | be appropriated only to the Texas Education Agency for use in |
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| 25 | 25 | | providing property tax relief through reduction of the state |
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| 26 | 26 | | compression percentage, as defined by Section 48.255, Education |
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| 27 | 27 | | Code. |
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| 28 | 28 | | SECTION 2. This Act applies beginning with the state fiscal |
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| 29 | 29 | | biennium beginning September 1, 2023. |
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| 30 | 30 | | SECTION 3. This Act takes effect September 1, 2023. |
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