HBA-JEK H.B. 3310 77(R) BILL ANALYSIS Office of House Bill AnalysisH.B. 3310 By: Dunnam Public Education 4/8/2001 Introduced BACKGROUND AND PURPOSE Under current law, the state equalizes bond payments for a school district's instructional facilities under the Instructional Facilities Allotment and Existing Debt Allotment programs. The local share of the guaranteed yield must be paid from interest and sinking fund (I&S) taxes levied to raise revenue to pay principal and interest on debt. Although a district may use a variety of other local funds for debt payments, those funds do not count toward the district's local share, thus forcing some districts to levy higher than necessary I&S tax rates to receive the full guaranteed yield from the state. House Bill 3310 authorizes a district to pay the district's share of existing debt for instructional facilities using certain bond taxes, maintenance and operations taxes, and other local sources of revenue. 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. ANALYSIS House Bill 3310 amends the Education Code to authorize a school district to pay the district's share of existing debt service for instructional facilities using bond taxes collected for the current year, bond taxes collected in the preceding tax year in excess of the amount necessary to pay the bonds for which the taxes were collected, maintenance and operations taxes collected in excess of the district's enrichment tax rate, or any other local money, including donations and grants, that is not obtained from a governmental source or used to generate state financial support for the district. EFFECTIVE DATE September 1, 2001.