Bill Text: TX SB1797 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to the limitation on the amount of supplemental payments under the Texas Economic Development Act.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2015-03-24 - Referred to Natural Resources & Economic Development [SB1797 Detail]
Download: Texas-2015-SB1797-Introduced.html
By: Seliger | S.B. No. 1797 | |
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relating to the limitation on the amount of supplemental payments | ||
under the Texas Economic Development Act. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 313.027(i), Tax Code, is amended to read | ||
as follows: | ||
(i) A person and the school district may not enter into an | ||
agreement under which the person agrees to provide supplemental | ||
payments to a school district or any other entity on behalf of a | ||
school district in an amount that exceeds an amount equal to the | ||
greater of $100 per student per year in average daily attendance, as | ||
defined by Section 42.005, Education Code, or $75,000 [ |
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year, or for a period that exceeds the period beginning with the | ||
period described by Section 313.021(4) and ending December 31 of | ||
the third tax year after the date the person's eligibility for a | ||
limitation under this chapter expires. This limit does not apply to | ||
amounts described by Subsection (f)(1) or (2). | ||
SECTION 2. The change in law under this Act applies only to | ||
an application filed under Chapter 313, Tax Code, on or after the | ||
effective date of this Act. An application filed under that chapter | ||
before the effective date of this Act is governed by the law in | ||
effect on the date the application was filed, and the former law is | ||
continued in effect for that purpose. | ||
SECTION 3. This Act takes effect September 1, 2015. |