The bill, H.B. No. 67, proposes amendments to Section 403.109 of the Government Code to enhance the allocation of surplus state revenue to the property tax relief fund. Specifically, it introduces new provisions that require the comptroller to deposit general revenue into the fund within 90 days after the end of each state fiscal biennium. The amount deposited will be equal to half of the surplus general revenue that exceeds the comptroller's biennial revenue estimate for that period. Additionally, the bill stipulates that funds deposited under this new provision can only be appropriated to the Texas Education Agency for the purpose of providing property tax relief through a reduction in the state compression percentage.

The bill is set to take effect on the 91st day following the end of the legislative session and will apply starting with the state fiscal biennium that begins on September 1, 2027. This legislative change aims to provide a structured approach to utilizing surplus revenue for property tax relief, thereby potentially reducing the financial burden on school district maintenance and operations ad valorem taxes.

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