The bill, H.B. No. 218, proposes amendments to Section 403.109 of the Government Code to enhance the allocation and deposit of surplus state revenue into the property tax relief fund. It introduces new subsections (e) and (f), which mandate the comptroller to allocate general revenue for deposit into the fund based on the surplus revenue exceeding 104 percent of the previous biennium's total general revenue. The bill specifies that these allocations must be periodically deposited, with the final deposit occurring no later than the 90th day of the subsequent state fiscal biennium.

Additionally, the bill stipulates that funds deposited under the 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 provisions of this act will 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)