HB 67

89S20020 CS-D
		By: Bell of Montgomery
  H.B. No. 67
  A BILL TO BE ENTITLED
  AN ACT
  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, 2027.
         SECTION 3.  This Act takes effect on the 91st day after the
  last day of the legislative session.