| 1 | 1 | | 89R1658 KJE-D |
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| 2 | 2 | | By: Dorazio H.J.R. No. 76 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 6 | 6 | | |
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| 7 | 7 | | A JOINT RESOLUTION |
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| 8 | 8 | | proposing a constitutional amendment appropriating certain surplus |
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| 9 | 9 | | revenue for school district bond debt. |
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| 10 | 10 | | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Article VII, Texas Constitution, is amended by |
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| 12 | 12 | | adding Section 3-a to read as follows: |
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| 13 | 13 | | Sec. 3-a. (a) For the state fiscal year beginning September |
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| 14 | 14 | | 1, 2026, the following amounts of money are appropriated from the |
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| 15 | 15 | | specified source to the Texas Education Agency or its successor in |
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| 16 | 16 | | function for distribution to school districts to pay debt service |
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| 17 | 17 | | on bonds supported by ad valorem taxes as provided by this section: |
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| 18 | 18 | | (1) an amount of money equal to one-half of the amount |
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| 19 | 19 | | by which the estimated amount of total available general revenue |
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| 20 | 20 | | anticipated to be received in the state fiscal biennium beginning |
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| 21 | 21 | | September 1, 2025, as reported in the statement required of the |
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| 22 | 22 | | comptroller by Section 49a, Article III, of this constitution, |
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| 23 | 23 | | exceeds the amount of revenue that may be spent for that biennium in |
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| 24 | 24 | | accordance with Section 22, Article VIII, of this constitution is |
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| 25 | 25 | | appropriated from the general revenue fund; and |
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| 26 | 26 | | (2) an amount of money equal to one-half of the |
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| 27 | 27 | | unobligated balance of the economic stabilization fund on September |
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| 28 | 28 | | 1, 2025, is appropriated from the economic stabilization fund. |
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| 29 | 29 | | (b) Money appropriated by this section shall be distributed |
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| 30 | 30 | | proportionately to each school district based on the number of |
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| 31 | 31 | | students enrolled in the district who are lawfully present in the |
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| 32 | 32 | | United States. |
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| 33 | 33 | | (c) Subject to Subsection (d) of this section, a school |
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| 34 | 34 | | district must use money distributed under this section to pay debt |
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| 35 | 35 | | service on bonds supported by ad valorem taxes, prioritizing bonds |
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| 36 | 36 | | with the highest interest rates. |
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| 37 | 37 | | (d) A school district that receives more money under this |
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| 38 | 38 | | section than the district owes on bonds issued by the district that |
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| 39 | 39 | | are supported by ad valorem taxes shall use the money in the |
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| 40 | 40 | | following order: |
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| 41 | 41 | | (1) to pay off debt attributable to bonds issued by the |
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| 42 | 42 | | district that are supported by ad valorem taxes, if any; and |
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| 43 | 43 | | (2) to pay for capital improvements. |
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| 44 | 44 | | (e) A school district that accepts money distributed under |
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| 45 | 45 | | this section may not issue bonds supported by ad valorem taxes |
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| 46 | 46 | | during the 10-year period that begins on the date on which the |
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| 47 | 47 | | district accepts the money. A school district may decline money |
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| 48 | 48 | | distributed under this section. |
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| 49 | 49 | | (f) For purposes of Section 22, Article VIII, of this |
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| 50 | 50 | | constitution, the appropriation under this section is an |
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| 51 | 51 | | appropriation of state tax revenues dedicated by this constitution. |
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| 52 | 52 | | (g) This section expires September 1, 2039. |
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| 53 | 53 | | SECTION 2. This proposed constitutional amendment shall be |
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| 54 | 54 | | submitted to the voters at an election to be held November 4, 2025. |
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| 55 | 55 | | The ballot shall be printed to permit voting for or against the |
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| 56 | 56 | | proposition: "The constitutional amendment appropriating certain |
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| 57 | 57 | | surplus revenue for school district bond debt." |
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