“MCR” is the district’s maximum compressed rate, which is the tax rate for the current tax year per $100 of valuation of taxable property at which the district must levy a maintenance and operations tax to receive the full amount of the tier one allotment to which the district is entitled under this chapter;
“PYDPV” is the district’s value of “DPV” for the preceding tax year; and
“PYMCR” is the district’s value of “MCR” for the preceding tax year.
Except as provided by Subsection (c), a district’s maximum compressed rate (“MCR”) is the lesser of:
the rate determined by the following applicable formula:
if “DPV” exceeds “PYDPV” by an amount equal to or greater than 2.5 percent:
For purposes of determining a district’s maximum compressed rate (“MCR”) under Subsection (b) for the 2020-2021 school year, the value of “PYMCR” is $1.00. This subsection expires September 1, 2021.
The agency shall calculate and make available school districts’ maximum compressed rates, as determined under this section.
It is the intent of the legislature that the state continue to fund public schools at the same or similar level as the state would have if this section had not taken effect.Added by Acts 2019, 86th Leg., R.S., Ch. 943 (H.B. 3), Sec. 1A.007, eff. September 1, 2020.