Texas SB435 provides financial adjustments for school districts that lose revenue due to using the state value of property instead of the local value.

Texas SB435 amends the Education Code to create an adjustment for school districts that experience revenue loss due to the use of the state value of property, as determined by the comptroller, instead of the local value. The adjustment applies to districts using the state value under Section 403.302(c), Government Code. The agency will determine if the district's entitlement is greater using the local value. If so, the commissioner will increase state aid or adjust the local revenue limit. The adjustment is 75% for the first year, 50% for the second, and 25% for the third.

Texas SB435 provides financial adjustments for school districts that lose revenue due to using the state value of property instead of the local value.

Texas SB435 amends the Education Code to create an adjustment for school districts that experience revenue loss due to the use of the state value of property, as determined by the comptroller, instead of the local value. The adjustment applies to districts using the state value under Section 403.302(c), Government Code. The agency will determine if the district's entitlement is greater using the local value. If so, the commissioner will increase state aid or adjust the local revenue limit. The adjustment is 75% for the first year, 50% for the second, and 25% for the third.