Texas Education Code - Section 42.2522. Adjustment For Optional Homestead Exemption
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§ 42.2522. ADJUSTMENT FOR OPTIONAL HOMESTEAD
EXEMPTION. (a) In any school year, the commissioner may not
provide funding under this chapter based on a school district's
taxable value of property computed in accordance with Section
403.302(d)(2), Government Code, unless:
(1) funds are specifically appropriated for purposes
of this section; or
(2) the commissioner determines that the total amount
of state funds appropriated for purposes of the Foundation School
Program for the school year exceeds the amount of state funds
distributed to school districts in accordance with Section 42.253
based on the taxable values of property in school districts
computed in accordance with Section 403.302(d), Government Code,
without any deduction for residence homestead exemptions granted
under Section 11.13(n), Tax Code.
(b) In making a determination under Subsection (a)(2), the
commissioner shall:
(1) notwithstanding Section 42.253(b), reduce the
entitlement under this chapter of a school district whose final
taxable value of property is higher than the estimate under Section
42.254 and make payments to school districts accordingly; and
(2) give priority to school districts that, due to
factors beyond the control of the board of trustees, experience a
rapid decline in the tax base used in calculating taxable values in
excess of four percent of the tax base used in the preceding year.
(c) In the first year of a state fiscal biennium, before
providing funding as provided by Subsection (a)(2), the
commissioner shall ensure that sufficient appropriated funds for
purposes of the Foundation School Program are available for the
second year of the biennium, including funds to be used for purposes
of Section 42.2521.
(d) If the commissioner determines that the amount of funds
available under Subsection (a)(1) or (2) does not at least equal the
total amount of state funding to which districts would be entitled
if state funding under this chapter were based on the taxable values
of property in school districts computed in accordance with Section
403.302(d)(2), Government Code, the commissioner may, to the extent
necessary, provide state funding based on a uniform lesser fraction
of the deduction under Section 403.302(d)(2), Government Code.
(e) The commissioner shall notify school districts as soon
as practicable as to the availability of funds under this section.
For purposes of computing a rollback tax rate under Section 26.08,
Tax Code, a district shall adjust the district's tax rate limit to
reflect assistance received under this section.
Added by Acts 1999, 76th Leg., ch. 396, § 1.18, eff. Sept. 1,
1999. Amended by Acts 2001, 77th Leg., ch. 1158, § 3, eff. Sept.
1, 2001.
Section: 42.2513 42.2514 42.2515 42.2516 42.2517 42.2521 42.2522 42.253 42.2531 42.254 42.255 42.257 42.258 42.259
Last modified: August 10, 2007
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