Texas HB129 dedicates surplus state revenue for school district maintenance and operations ad valorem tax relief.
Texas HB129 mandates the comptroller to determine the surplus state revenue at the end of each state fiscal biennium. If the surplus is at least $1.5 billion, 10 percent of this surplus is deposited into a dedicated account for school district maintenance and operations ad valorem tax relief. This account can only be used for tax relief purposes. The bill takes effect starting with the state fiscal biennium beginning September 1, 2027.
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