Bill Text: TX HB665 | 2019-2020 | 86th Legislature | Introduced
Bill Title: Relating to the use of current year property values under the public school finance system.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2019-02-21 - Referred to Public Education [HB665 Detail]
Download: Texas-2019-HB665-Introduced.html
86R812 KJE-D | ||
By: King of Hemphill | H.B. No. 665 |
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relating to the use of current year property values under the public | ||
school finance system. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 41.004(a), Education Code, is amended to | ||
read as follows: | ||
(a) Not later than July 15 of each year, using the estimates | ||
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42.254, the commissioner shall review the wealth per student of | ||
school districts in the state and shall notify: | ||
(1) each district with wealth per student exceeding | ||
the equalized wealth level; | ||
(2) each district to which the commissioner proposes | ||
to annex property detached from a district notified under | ||
Subdivision (1), if necessary, under Subchapter G; and | ||
(3) each district to which the commissioner proposes | ||
to consolidate a district notified under Subdivision (1), if | ||
necessary, under Subchapter H. | ||
SECTION 2. Section 42.252(a), Education Code, is amended to | ||
read as follows: | ||
(a) Each school district's share of the Foundation School | ||
Program is determined by the following formula: | ||
LFA = TR X DPV | ||
where: | ||
"LFA" is the school district's local share; | ||
"TR" is a tax rate which for each hundred dollars of valuation | ||
is an effective tax rate of the amount equal to the product of the | ||
state compression percentage, as determined under Section 42.2516, | ||
multiplied by the lesser of: | ||
(1) $1.50; or | ||
(2) the maintenance and operations tax rate adopted by | ||
the district for the 2005 tax year; and | ||
"DPV" is the taxable value of property in the school district | ||
for the current [ |
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Chapter 403, Government Code. | ||
SECTION 3. This Act takes effect September 1, 2019. |