The bill, H.B. No. 218, proposes amendments to Section 403.109 of the Government Code regarding the allocation and deposit of surplus state revenue into the property tax relief fund. It introduces new provisions that require the comptroller to allocate general revenue for deposit into the fund, specifically when the revenue exceeds 104 percent of the total amount received in the previous fiscal biennium. Additionally, it mandates that these funds be periodically deposited, with the final deposit occurring no later than the 90th day of the following fiscal biennium.

Furthermore, the bill stipulates that the funds deposited under these new provisions can only be appropriated to the Texas Education Agency for the purpose of providing property tax relief through the reduction of the state compression percentage, as defined in the Education Code. The bill is set to take effect on September 1, 2025, and will apply to the state fiscal biennium beginning September 1, 2027.

Statutes affected:
Introduced: Government Code 403.109 (Government Code 403)