The bill, H.B. No. 129, proposes the dedication of certain surplus state revenue specifically for providing ad valorem tax relief to school districts. It amends the heading of Subchapter G, Chapter 403 of the Government Code to include "AND REVENUE DEDICATIONS" and introduces a new section, 403.108, which outlines the process for determining and allocating surplus revenue. The comptroller is tasked with calculating the surplus revenue at the end of each state fiscal biennium and, if the surplus is at least $1.5 billion, depositing 10 percent of that amount into a designated account within the general revenue fund.

The funds in this account can only be appropriated by the legislature for the purpose of providing maintenance and operations ad valorem tax relief to school districts. The provisions of this act will take effect starting with the state fiscal biennium that begins on September 1, 2027, and will become law 91 days after the conclusion of the legislative session.

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