TITLE: Relating to the public school finance system.

SUMMARY: Relating to the public school finance system.

FULL TEXT:
AN ACT relating to the public school finance system. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Subchapter C, Chapter 7, Education Code, is amended by adding Section 7.0551 to read as follows: Sec. 7.0551. DISTRIBUTION OF STATE REVENUE FOR PUBLIC EDUCATION. The commissioner shall adopt rules providing for the distribution of state revenue for the maintenance and operation of public schools. For purposes of this section, "state revenue" means state financial assistance formerly distributed under Chapter 42, as it existed on January 1, 2011. SECTION 2. Chapters 41 and 42, Education Code, are repealed. SECTION 3. (a) Except as provided by Subsection (b) of this section: (1) this Act takes effect immediately if it receives a vote of two-thirds of all the members elected to each house, as provided by Section 39, Article III, Texas Constitution; and (2) if this Act does not receive the vote necessary for immediate effect, this Act takes effect September 1, 2011.