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A BILL TO BE ENTITLED
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AN ACT
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relating to the maintenance and operations tax revenue of a school |
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district located in a reinvestment zone. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 41.093(b), Education Code, is amended to |
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read as follows: |
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(b) For purposes of this section, a school district's |
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maintenance and operations tax revenue does not include: |
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(1) any amounts paid into a tax increment fund under |
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Chapter 311, Tax Code; or |
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(2) for a period of 10 years following the final year |
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that the district made payments described by Subdivision (1), an |
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amount equal to the total amount paid into the tax increment fund |
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during the final year. |
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SECTION 2. This Act takes effect September 1, 2015. |