The bill, H.B. No. 67, 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 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 biennium. Additionally, the bill stipulates that funds deposited under this 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 after the conclusion of the legislative session and will apply starting with the state fiscal biennium that begins on September 1, 2027. This legislation aims to enhance property tax relief for school district maintenance and operations by ensuring that surplus state revenue is effectively utilized for this purpose.

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