Texas Education Code

§ 46.005 — LIMITATION ON GUARANTEED AMOUNT

ED § 46.005Title 2. PUBLIC EDUCATION · Part I. SCHOOL FINANCE AND FISCAL MANAGEMENT · Ch. 46. ASSISTANCE WITH INSTRUCTIONAL FACILITIES AND PAYMENT OF EXISTING DEBT · Art. A. INSTRUCTIONAL FACILITIES ALLOTMENT

Statute text

View on source

The guaranteed amount of state and local funds for a new project that a district may be awarded in any state fiscal biennium under Section 46.003 for a school district may not exceed the lesser of:

(1)the amount the actual debt service payments the district makes in the biennium in which the bonds are issued; or

(2)the greater of:

(A)$100,000; or

(B)the product of the number of students in average daily attendance in the district multiplied by $250.

Legislative history

Added by Acts 1997, 75th Leg., ch. 592, Sec. 1.04, eff. Sept. 1, 1997.