TITLE: Relating to a limitation on the amount of school property tax revenue that is subject to recapture under the public school finance system.

SUMMARY: Relating to a limitation on the amount of school property tax revenue that is subject to recapture under the public school finance system.

FULL TEXT:
AN ACT relating to a limitation on the amount of school property tax revenue that is subject to recapture under the public school finance system. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Subchapter A, Chapter 41, Education Code, is amended by adding Section 41.0021 to read as follows: Sec. 41.0021. WEALTH PER STUDENT OF CERTAIN SCHOOL DISTRICTS. (a) This section applies only to a school district with a wealth per student: (1) for the 2016-2017 school year that exceeded the equalized wealth level for that school year under Section 41.002(a)(1) or (3); and (2) for the current year that is not less than the district's wealth per student for the preceding school year. (b) Notwithstanding any other provision of this chapter, if for any school year the difference between a district's wealth per student and the equalized wealth level for that school year under Section 41.002(a)(1) or (3), as applicable, is greater than the difference between the district's wealth per student for the 2016-2017 school year and the equalized wealth level for that year under Section 41.002(a)(1) or (3), as applicable, the commissioner, at the written request of the district's board of trustees, shall consider the district's wealth per student, before exercising one or more options under Section 41.003, to be an amount equal to the sum of the equalized wealth level for the year under Section 41.002(a)(1) or (3), as applicable, plus the difference between the district's wealth per student for the 2016-2017 school year and the equalized wealth level for that year under Section 41.002(a)(1) or (3), as applicable. SECTION 2. This Act takes effect September 1, 2017.