Bill Text: TX HB2451 | 2015-2016 | 84th Legislature | Introduced

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Bill Title: Relating to the use by a school district of certain undesignated funds in the district's general fund.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-04-14 - Left pending in committee [HB2451 Detail]

Download: Texas-2015-HB2451-Introduced.html

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84R5715 CAE-D
By: Huberty H.B. No. 2451

A BILL TO BE ENTITLED
AN ACT
relating to the use by a school district of certain undesignated
funds in the district's general fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter A, Chapter 44, Education Code, is
amended by adding Section 44.013 to read as follows:
Sec. 44.013. USE OF GENERAL FUND. (a) A school district
must maintain a minimum balance of undesignated funds in the
general fund of the district in an amount that is not less than the
general operating expenses of the school district for a period of 90
days. The general operating expenses for a period of 90 days must
be determined using the operating expenses incurred by the district
for the preceding 90 days.
(b) A school district may, after obtaining approval from the
board of trustees, use any undesignated funds in the general fund
that exceed the amount required to be maintained by the school
district under Subsection (a) for any authorized payment or
purchase of the district, including:
(1) payment of any outstanding debt maintained by the
district;
(2) purchase of land or school buildings for the
district; or
(3) reduction of the district's operation and
maintenance tax rate for the following tax year.
SECTION 2. This Act takes effect September 1, 2015.