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A BILL TO BE ENTITLED
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AN ACT
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relating to the limitation on the amount of supplemental payments |
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under the Texas Economic Development Act. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 313.027(i), Tax Code, is amended to read |
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as follows: |
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(i) A person and the school district may not enter into an |
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agreement under which the person agrees to provide supplemental |
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payments to a school district or any other entity on behalf of a |
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school district in an amount that exceeds an amount equal to the |
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greater of $100 per student per year in average daily attendance, as |
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defined by Section 42.005, Education Code, or $75,000 [$50,000] per |
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year, or for a period that exceeds the period beginning with the |
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period described by Section 313.021(4) and ending December 31 of |
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the third tax year after the date the person's eligibility for a |
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limitation under this chapter expires. This limit does not apply to |
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amounts described by Subsection (f)(1) or (2). |
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SECTION 2. The change in law under this Act applies only to |
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an application filed under Chapter 313, Tax Code, on or after the |
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effective date of this Act. An application filed under that chapter |
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before the effective date of this Act is governed by the law in |
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effect on the date the application was filed, and the former law is |
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continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2015. |