Bill Text: TX HB1325 | 2023-2024 | 88th Legislature | Introduced

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Bill Title: Relating to the allocation and deposit of certain surplus state revenue to the property tax relief fund for use in reducing school district maintenance and operations ad valorem taxes.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2023-03-03 - Referred to Appropriations [HB1325 Detail]

Download: Texas-2023-HB1325-Introduced.html

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88R8185 KJE-D
By: Isaac H.B. No. 1325

A BILL TO BE ENTITLED
AN ACT
relating to the allocation and deposit of certain surplus state
revenue to the property tax relief fund for use in reducing school
district maintenance and operations ad valorem taxes.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 403.109, Government Code, is amended by
adding Subsections (e) and (f) to read as follows:
(e) The comptroller shall:
(1) allocate for deposit to the credit of the fund
general revenue in an amount equal to the amount by which the amount
of general revenue received in a state fiscal biennium exceeds 104
percent of the total amount of general revenue that was received
during the preceding state fiscal biennium; and
(2) periodically deposit to the credit of the fund the
general revenue allocated under Subdivision (1), with the final
deposit for that biennium to be made not later than the 90th day of
the next state fiscal biennium.
(f) Notwithstanding any other provision of this section,
money deposited to the credit of the fund under Subsection (e) may
be appropriated only to the Texas Education Agency for use in
providing property tax relief through reduction of the state
compression percentage, as defined by Section 48.255, Education
Code.
SECTION 2. This Act applies beginning with the state fiscal
biennium beginning September 1, 2025.
SECTION 3. This Act takes effect September 1, 2023.