TITLE: Relating to the calculation of wealth level per student for the purpose of taking action to achieve the equalized wealth level.

SUMMARY: Relating to the calculation of wealth level per student for the purpose of taking action to achieve the equalized wealth level.

FULL TEXT:
AN ACT relating to the calculation of wealth level per student for the purpose of taking action to achieve the equalized wealth level. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Chapter 41.003, Education Code, is amended by adding Subsection (b) as follows: (a) A district with a wealth per student that exceeds the equalized wealth level may take any combination of the following actions to achieve the equalized wealth level: (1) consolidation with another district as provided by Subchapter B; (2) detachment of territory as provided by Subchapter C; (3) purchase of average daily attendance credit as provided by Subchapter D; (4) education of nonresident students as provided by Subchapter E; or (5) tax base consolidation with another district as provided by Subchapter F. (b) Prior to taking any action to achieve the equalized wealth level in accordance with subsection (a), a district with a wealth per student that exceeds the equalized wealth level shall subtract from its wealth per student the amount of revenue per student that is expended to pay for security costs incurred by or on behalf of any school in the district and the amount of revenue per student that is expended to pay for special education programs administered in the district in accordance with Chapter 29. Such a district must take an action or combination of actions listed under subsection (a) only if and to the extent that the new net wealth level per student, as calculated in accordance with this subsection, exceeds the equalized wealth level calculated in Section 41.002. SECTION 2. This Act takes effect September 1, 2013.