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TX HB218
Bill
Status
11/12/2024
Primary Sponsor
Carrie Isaac
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AI Summary
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Requires the comptroller to allocate surplus general revenue exceeding 104% of the previous biennium's general revenue to the property tax relief fund
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Mandates periodic deposits of the allocated surplus funds, with the final deposit due no later than 90 days into the next state fiscal biennium
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Restricts appropriation of these deposited funds exclusively to the Texas Education Agency for property tax relief
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Directs funds to reduce school district maintenance and operations property taxes through lowering the state compression percentage
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Takes effect September 1, 2025, with provisions applying beginning with the state fiscal biennium starting September 1, 2027
Legislative Description
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.
State Finances
Last Action
Referred to Appropriations
2/27/2025