Bill Text: TX HB3301 | 2025-2026 | 89th Legislature | Introduced
Bill Title: Relating to establishing the permanent public school fund to reduce school district maintenance and operations ad valorem taxes and provide funding for public school prekindergarten programs.
Sponsorship: Partisan Bill (Democrat 1)
Status: (Introduced - Dead) 2025-03-21 - Referred to Appropriations [HB3301 Detail]
Download: Texas-2025-HB3301-Introduced.html
| 89R10923 KJE-D | ||
| By: Reynolds | H.B. No. 3301 | |
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| relating to establishing the permanent public school fund to reduce | ||
| school district maintenance and operations ad valorem taxes and | ||
| provide funding for public school prekindergarten programs. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subtitle I, Title 2, Education Code, is amended | ||
| by adding Chapter 47A to read as follows: | ||
| CHAPTER 47A. PERMANENT PUBLIC SCHOOL FUND | ||
| Sec. 47A.001. DEFINITION. In this chapter, "fund" means | ||
| the permanent public school fund. | ||
| Sec. 47A.002. FUND ESTABLISHED. (a) The permanent public | ||
| school fund is a special fund in the state treasury outside the | ||
| general revenue fund. | ||
| (b) The fund consists of: | ||
| (1) money appropriated by the legislature for deposit | ||
| to the credit of the fund; and | ||
| (2) interest or other earnings attributable to the | ||
| investment of money in the fund. | ||
| Sec. 47A.003. USES OF FUND. (a) The legislature may not | ||
| appropriate money from the fund other than the interest or other | ||
| earnings attributable to the investment of money in the fund. | ||
| (b) The interest or other earnings attributable to the | ||
| investment of money in the fund may be appropriated only to: | ||
| (1) reduce school district maintenance and operations | ||
| ad valorem taxes by reducing the state compression percentage under | ||
| Section 48.255; or | ||
| (2) provide funding for prekindergarten programs | ||
| under Subchapter E, Chapter 29. | ||
| Sec. 47A.004. DEPOSIT OF MONEY. Not later than the first | ||
| day of each state fiscal biennium, the comptroller shall deposit | ||
| $10 million to the credit of the fund. | ||
| Sec. 47A.005. INVESTMENT OF FUND. Notwithstanding Section | ||
| 404.024(b), Government Code, the comptroller shall invest money in | ||
| the fund in: | ||
| (1) cryptocurrencies; | ||
| (2) corporate bonds; | ||
| (3) municipal bonds; and | ||
| (4) treasury bills issued by the United States | ||
| government. | ||
| SECTION 2. This Act takes effect September 1, 2025. | ||
