Sec. 46.005. LIMITATION ON GUARANTEED AMOUNT

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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.

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

                    
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