Texas Education Code 46.034 – Limits On Assistance
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(a) The existing debt tax rate (“EDTR”) under § 46.032 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.
Terms Used In Texas Education Code 46.034
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Year: means 12 consecutive months. See Texas Government Code 311.005
(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 § 46.006(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.