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Texas Statutes (Last Updated: January 4, 2014) |
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EDUCATION CODE |
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Title 2. PUBLIC EDUCATION |
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Subtitle I. SCHOOL FINANCE AND FISCAL MANAGEMENT |
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Chapter 41. EQUALIZED WEALTH LEVEL |
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Subchapter D. PURCHASE OF ATTENDANCE CREDIT |
Sec. 41.093. COST
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(a) Subject to Subsection (b-1), the cost of each credit is an amount equal to the greater of:
(1) the amount of the district's maintenance and operations tax revenue per student in weighted average daily attendance for the school year for which the contract is executed; or
(2) the amount of the statewide district average of maintenance and operations tax revenue per student in weighted average daily attendance for the school year preceding the school year for which the contract is executed.
(b) For purposes of this section, a school district's maintenance and operations tax revenue does not include any amounts paid into a tax increment fund under Chapter 311, Tax Code.
(b-1) If the guaranteed level of state and local funds per weighted student per cent of tax effort under Section 42.302(a-1)(1) for which state funds are appropriated for a school year is an amount at least equal to the amount of revenue per weighted student per cent of tax effort available to the Austin Independent School District, as determined by the commissioner in cooperation with the Legislative Budget Board, the commissioner, in computing the amounts described by Subsections (a)(1) and (2) and determining the cost of an attendance credit, shall exclude maintenance and operations tax revenue resulting from the first six cents by which a district's maintenance and operations tax rate exceeds the rate equal to the product of the state compression percentage, as determined under Section 42.2516, multiplied by the maintenance and operations tax rate adopted by the district for the 2005 tax year.
(b-2) Expired.
(c) The cost of an attendance credit for a school district is computed using the final tax collections of the district.