Bill Text: TX HB292 | 2021 | 87th Legislature 1st Special Session | Introduced
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) 2021-07-19 - Filed [HB292 Detail]
Download: Texas-2021-HB292-Introduced.html
| 87S10873 KJE-D | ||
| By: Bell of Montgomery | H.B. No. 292 | |
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| 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) Not later than the 90th day after the last day of each | ||
| state fiscal biennium, the comptroller shall deposit to the credit | ||
| of the fund general revenue in an amount equal to one-half of the | ||
| amount by which the total available general revenue for that | ||
| biennium at the end of the biennium exceeds the amount of total | ||
| available general revenue stated in the comptroller's biennial | ||
| revenue estimate for that 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, 2023. | ||
| SECTION 3. This Act takes effect on the 91st day after the | ||
| last day of the legislative session. | ||
