Texas Education Code
§ 45.261 — REIMBURSEMENT OF FOUNDATION SCHOOL PROGRAM
ED § 45.261Title 2. PUBLIC EDUCATION · Part I. SCHOOL FINANCE AND FISCAL MANAGEMENT · Ch. 45. SCHOOL DISTRICT FUNDS · Art. I. INTERCEPT PROGRAM TO PROVIDE CREDIT ENHANCEMENT FOR BONDS
Statute text
View on source(a)If the commissioner orders payment from the money appropriated to the Foundation School Program on behalf of a school district that is not required to reduce its local revenue level under Section 48.257, the commissioner shall direct the comptroller to withhold the amount paid from the first state money payable to the district. If the commissioner orders payment from the money appropriated to the Foundation School Program on behalf of a school district that is required to reduce its local revenue level under Section 48.257, the commissioner shall increase amounts due from the district under Chapter 49 in a total amount equal to the amount of payments made on behalf of the district under this subchapter. Amounts withheld or received under this subsection shall be used for the Foundation School Program.
(b)In accordance with commissioner rules, the commissioner may authorize reimbursement of the Foundation School Program in a manner other than that provided by this section.
(c)The commissioner may order a school district to set an ad valorem tax rate capable of producing an amount of revenue sufficient to enable the district to:
(1)provide reimbursement under this section; and
(2)pay the remaining principal of and interest on the bonds as the principal and interest become due.
(d)If a school district fails to comply with the commissioner's order under Subsection (c), the commissioner may impose any sanction on the district authorized to be imposed on a district under Chapter 39A, including appointment of a board of managers or annexation to another district, regardless of the district's accreditation status or the duration of a particular accreditation status.
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Legislative history
Acts 2011, 82nd Leg., R.S., Ch. 91 (S.B. 1303), Sec. 7.013, eff. September 1, 2011. Acts 2017, 85th Leg., R.S., Ch. 324 (S.B. 1488), Sec. 21.003(30), eff. September 1, 2017. Acts 2019, 86th Leg., R.S., Ch. 943 (H.B. 3), Sec. 3.056, eff. September 1, 2019. Acts 2019, 86th Leg., R.S., Ch. 943 (H.B. 3), Sec. 3.057, eff. January 1, 2020.