HBA-NLM H.B. 1230 76(R) BILL ANALYSIS Office of House Bill AnalysisH.B. 1230 By: Eiland Public Education 4/20/1999 Introduced BACKGROUND AND PURPOSE The purpose of the Foundation School Program (Chapter 42, Education Code) is to guarantee that each school district in the state has adequate resources to provide each eligible student a basic instructional program, facilities suitable to the student's educational needs, and access to substantially equalized financing. Adjustments to the property tax values may be necessary for certain school districts to accomplish these goals. H.B. 1230 requires the commissioner of education to reduce the taxable value of property, as determined under Subchapter M (Study of School District Property Values), Chapter 403, Government Code, of a district that issues certain bonds. RULEMAKING AUTHORITY It is the opinion of the Office of House Bill Analysis that this bill does not expressly delegate any additional rulemaking authority to a state officer, department, agency, or institution. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 45.006, Education Code, by adding Subsection (h), as follows: (h) Requires the commissioner of education, for the purposes of Chapters 41 (Equalized Wealth Level) and 42 (Foundation School Program), to reduce the taxable value of property, as determined under Subchapter M (Study of School District Property Values), Chapter 403, Government Code, of a district that issues bonds under Subsection (e) (requiring the governing body of the district to pay certain debt of the district under a lump sum), in the manner specified. SECTION 2. Provides that this Act applies beginning with the 1999-2000 school year. SECTION 3. Emergency clause. Effective date: upon passage.