Texas HB61 repeals school district maintenance and operations ad valorem taxes, enacts state and local value added taxes, and reforms school finance.

Texas HB61 repeals school district maintenance and operations ad valorem taxes, replacing them with a school district enrichment value added tax. The bill also enacts a state value added tax and allows local value added taxes, replacing sales and use taxes. The bill mandates the commissioner of education to assist school districts in transitioning to the new tax system. It requires school districts to classify expenditures and debts as "foundational" or "enrichment." The bill also mandates the preparation of transition reports and funding recommendations by the commissioner of education.

Texas HB61 repeals school district maintenance and operations ad valorem taxes, enacts state and local value added taxes, and reforms school finance.

Texas HB61 repeals school district maintenance and operations ad valorem taxes, replacing them with a school district enrichment value added tax. The bill also enacts a state value added tax and allows local value added taxes, replacing sales and use taxes. The bill mandates the commissioner of education to assist school districts in transitioning to the new tax system. It requires school districts to classify expenditures and debts as "foundational" or "enrichment." The bill also mandates the preparation of transition reports and funding recommendations by the commissioner of education.