Texas HB1553 aims to reduce school district maintenance and operations ad valorem taxes by using surplus state revenue.

Texas HB1553 modifies the Education Code to reduce school district maintenance and operations ad valorem taxes. If the state's surplus revenue exceeds estimated taxes, the legislature can appropriate the surplus for any purpose. The bill also adjusts the state compression percentage, which affects tax rates. If the state compression percentage is zero, school districts cannot impose a tier one maintenance and operations tax. The changes apply starting with the state fiscal biennium beginning September 1, 2027.

Texas HB1553 aims to reduce school district maintenance and operations ad valorem taxes by using surplus state revenue.

Texas HB1553 modifies the Education Code to reduce school district maintenance and operations ad valorem taxes. If the state's surplus revenue exceeds estimated taxes, the legislature can appropriate the surplus for any purpose. The bill also adjusts the state compression percentage, which affects tax rates. If the state compression percentage is zero, school districts cannot impose a tier one maintenance and operations tax. The changes apply starting with the state fiscal biennium beginning September 1, 2027.