Texas Education Code - Section 43.002. Transfers From Permanent School Fund And General Revenue Fund To Available School Fund
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§ 43.002. TRANSFERS FROM PERMANENT SCHOOL FUND AND
GENERAL REVENUE FUND TO AVAILABLE SCHOOL FUND. (a) On the first
working day of each month in a state fiscal year, the comptroller
shall transfer from the permanent school fund to the available
school fund an amount equal to one-twelfth of the annual
distribution from the permanent school fund to the available school
fund as provided by Section 5(a), Article VII, Texas Constitution,
for the fiscal year.
(a-1) Expired.
(a-2) Expired.
(b) Of the amounts available for transfer from the general
revenue fund to the available school fund for the months of January
and February of each fiscal year, no more than the amount necessary
to enable the comptroller to distribute from the available school
fund an amount equal to 9-1/2 percent of the estimated annual
available school fund apportionment to category 1 school districts,
as defined by Section 42.259, and 3-1/2 percent of the estimated
annual available school fund apportionment to category 2 school
districts, as defined by Section 42.259, may be transferred from
the general revenue fund to the available school fund. Any
remaining amount that would otherwise be available for transfer for
the months of January and February shall be transferred from the
general revenue fund to the available school fund in equal amounts
in June and in August of the same fiscal year.
Added by Acts 1995, 74th Leg., ch. 260, § 1, eff. May 30, 1995.
Amended by Acts 2003, 78th Leg., ch. 328, § 3, eff. Jan. 1, 2004.
Section: 42.301 42.302 42.303 42.304 42.352 42.4101 43.001 43.002 43.003 43.0031 43.0032 43.0033 43.0034 43.004 43.005
Last modified: August 10, 2007
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