Bill Text: TX HB4452 | 2021-2022 | 87th Legislature | Introduced
Bill Title: Relating to the creation of the attendance credit receipts fund.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-03-29 - Referred to Public Education [HB4452 Detail]
Download: Texas-2021-HB4452-Introduced.html
By: Meyer | H.B. No. 4452 |
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relating to the creation of the attendance credit receipts fund. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 49.154(b), Education Code, is amended to | ||
read as follows: | ||
(b) Receipts shall be deposited in the state treasury to the | ||
credit of the attendance credit receipts fund under Section 49.1541 | ||
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SECTION 2. Subchapter D, Chapter 49, Education Code, is | ||
amended by adding Section 49.1541 to read as follows: | ||
Sec. 49.1541. ATTENDANCE CREDIT RECEIPTS FUND. (a) The | ||
attendance credit receipts fund is created as a fund in the state | ||
treasury, administered by the comptroller. | ||
(b) The attendance credit receipts fund shall consist of | ||
payments made by school districts under Section 49.154 for the | ||
purchase of attendance credits under this subchapter. | ||
(c) Money deposited to the attendance credit receipts fund | ||
may only be used for foundation school program purposes. | ||
SECTION 3. As soon as practicable after the effective date | ||
of this Act, the comptroller shall transfer from the general | ||
revenue fund to the attendance credit receipts fund created under | ||
Section 49.1541, Education Code, as added by this Act, any funds | ||
received from the purchase of attendance credits by a school | ||
district under Section 49.154, Education Code, before the effective | ||
date of this Act. | ||
SECTION 4. This Act takes effect December 1, 2021. |