Tex.
Educ. Code Section 46.034
Limits on Assistance
(a)
The existing debt tax rate (“EDTR”) under Section 46.032 (Allotment) may not exceed $0.29 per $100 of valuation, or a greater amount for any year provided by appropriation.(b)
The amount of state assistance to which a district is entitled under this subchapter may not exceed the amount to which the district would be entitled at the district’s tax rate for the payment of eligible bonds for the final year of the preceding state fiscal biennium.(b-1)
Notwithstanding Subsection (b), a school district is entitled to state assistance under this subchapter based on the district’s tax rate for the current school year if the district demonstrates to the commissioner’s satisfaction that the district meets the criteria under Section 46.006 (Shortage or Excess of Funds Appropriated for New Projects)(c-2).(c)
If the amount required to pay the principal of and interest on eligible bonds in a school year is less than the amount of payments made by the district on the bonds during the final school year of the preceding state fiscal biennium or the district’s audited debt service collections for that school year, the district may not receive aid in excess of the amount that, when added to the district’s local revenue for the school year, equals the amount required to pay the principal of and interest on the bonds.(d)
Expired.(e)
Expired.
Source:
Section 46.034 — Limits on Assistance, https://statutes.capitol.texas.gov/Docs/ED/htm/ED.46.htm#46.034 (accessed Apr. 13, 2024).
