TITLE: Relating to a reduction in school funding under the Foundation School Program for a school district that receives a supplemental payment under an agreement to limit the appraised value of property in the district.

SUMMARY: Relating to a reduction in school funding under the Foundation School Program for a school district that receives a supplemental payment under an agreement to limit the appraised value of property in the district.

FULL TEXT:
AN ACT relating to a reduction in school funding under the Foundation School Program for a school district that receives a supplemental payment under an agreement to limit the appraised value of property in the district. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Subchapter E, Chapter 42, Education Code, is amended by adding Section 42.2533 to read as follows: Sec. 42.2533. ADJUSTMENT FOR CERTAIN SUPPLEMENTAL PAYMENTS. (a) The commissioner shall reduce the amounts due to a school district under this chapter or Chapter 46 by the amount of any supplemental payment received by the district during the preceding fiscal year under Section 313.027(i), Tax Code. (b) Not later than March 1 each year, the board of trustees of a school district shall disclose to the commissioner the amount of a supplemental payment subject to Subsection (a). SECTION 2. This Act takes effect September 1, 2019.