Texas Education Code - Section 46.032. Allotment
Legal Research Home >
Texas Lawyer > Education Code > Texas Education Code - Section 46.032. Allotment
§ 46.032. ALLOTMENT. (a) Each school district is
guaranteed a specified amount per student in state and local funds
for each cent of tax effort to pay the principal of and interest on
eligible bonds. The amount of state support, subject only to the
maximum amount under Section 46.034, is determined by the formula:
EDA = (EDGL X ADA X EDTR X 100) - (EDTR X (DPV/100))
where:
"EDA" is the amount of state funds to be allocated to the
district for assistance with existing debt;
"EDGL" is the dollar amount guaranteed level of state and
local funds per student per cent of tax effort, which is $35 or a
greater amount for any year provided by appropriation;
"ADA" is the number of students in average daily attendance,
as determined under Section 42.005, in the district;
"EDTR" is the existing debt tax rate of the district, which is
determined by dividing the amount budgeted by the district for
payment of eligible bonds by the quotient of the district's taxable
value of property as determined under Subchapter M, Chapter 403,
Government Code, or, if applicable, under Section 42.2521, divided
by 100; and
"DPV" is the district's taxable value of property as
determined under Subchapter M, Chapter 403, Government Code, or, if
applicable, under Section 42.2521.
(b) The existing debt tax rate of the district under
Subsection (a) may not exceed the rate that would be necessary for
the current year, using state funds under Subsection (a), to make
payments of principal and interest on the bonds for which the tax is
pledged.
(c) The amount budgeted by a district for payment of
eligible bonds may include:
(1) bond taxes collected in the current school year;
(2) bond taxes collected in a preceding school year in
excess of the amount necessary to pay the district's share of actual
debt service on bonds in that year, provided that the taxes were not
used to generate other state financial assistance for the district;
or
(3) maintenance and operations taxes collected in the
current school year or a preceding school year in excess of the
amount eligible to be used to generate other state financial
assistance for the district.
Added by Acts 1999, 76th Leg., ch. 396, § 1.29, eff. Sept. 1,
1999. Amended by Acts 2001, 77th Leg., ch. 1156, § 8, eff. Sept.
1, 2001.
Section: 46.0081 46.009 46.010 46.011 46.012 46.013 46.031 46.032 46.033 46.034 46.035 46.036 46.037 46.061
Last modified: August 10, 2007
|
