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TX SB435
Bill
Status
11/21/2024
Primary Sponsor
Juan Hinojosa
Click for details
AI Summary
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Creates a new adjustment mechanism for school districts that are required to use the state-determined property value (set by the comptroller) instead of their local appraisal value for school finance calculations
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Requires the Texas Education Agency to compare each affected district's funding entitlement using both the local property value and the state property value, and provide additional funding if the local value would result in higher entitlement
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Implements a three-year phase-out for the adjustment: 75% of the difference in year one, 50% in year two, and 25% in year three
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Limits eligibility to a maximum of three consecutive school years, after which a district must have at least one year using local values before becoming eligible again
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Takes effect September 1, 2025
Legislative Description
Relating to an adjustment for certain school districts under the public school finance system for revenue lost due to the use of the state value of the district's taxable value of property determined by the comptroller of public accounts.
Taxation
Last Action
Referred to Education K-16
2/3/2025