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