HB 332 — The allocation

90R2874 CS-F By: Isaac H.B. No. 332 relating to the allocation and deposit of certain surplus state revenue to the property tax relief fund for use in reducing school district maintenance and operations ad valorem taxes.

SECTION 1. Section 403.109, Government Code, is amended by adding Subsections (e) and (f) to read as follows: (e) The comptroller shall: (1) allocate for deposit to the credit of the fund general revenue in an amount equal to the amount by which the amount of general revenue received in a state fiscal biennium exceeds 104 percent of the total amount of general revenue that was received during the preceding state fiscal biennium; and (2) periodically deposit to the credit of the fund the general revenue allocated under Subdivision (1), with the final deposit for that biennium to be made not later than the 90th day of the next state fiscal biennium. (f) Notwithstanding any other provision of this section, money deposited to the credit of the fund under Subsection (e) may be appropriated only to the Texas Education Agency for use in providing property tax relief through reduction of the state compression percentage, as defined by Section 48.255, Education Code.

SECTION 2. This Act applies beginning with the state fiscal biennium beginning September 1, 2029.

SECTION 3. This Act takes effect September 1, 2027.