Loading chat...

TX HJR76

Joint Resolution

Official Source

Status

Introduced

11/12/2024

Primary Sponsor

Mark Dorazio

Click for details

Origin

House of Representatives

89th Legislature Regular Session

AI Summary

  • Proposes appropriating one-half of the state's surplus general revenue (amount exceeding constitutional spending limits) for the 2025-2027 biennium to school districts for bond debt service
  • Appropriates one-half of the unobligated balance of the Economic Stabilization Fund (Rainy Day Fund) as of September 1, 2025, for the same purpose
  • Distributes funds proportionally to school districts based on the number of students enrolled who are lawfully present in the United States
  • Requires districts to use funds to pay debt service on bonds supported by ad valorem taxes, prioritizing bonds with the highest interest rates; excess funds may be used for capital improvements
  • Prohibits school districts that accept the funding from issuing new bonds supported by ad valorem taxes for 10 years; the constitutional provision expires September 1, 2039
  • Requires voter approval at an election on November 4, 2025

Legislative Description

Proposing a constitutional amendment appropriating certain surplus revenue for school district bond debt.

State Finances

Last Action

Referred to Appropriations

3/7/2025

Committee Referrals

Appropriations3/7/2025

Full Bill Text

No bill text available