SB1129 - Relating to a credit against required recapture payments for school districts for the cost of optional residence homestead exemptions under the public school finance system.

  89R4842 KJE-D     By: Middleton S.B. No. 1129       A BILL TO BE ENTITLED   AN ACT   relating to a credit against required recapture payments for school   districts for the cost of optional residence homestead exemptions   under the public school finance system.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Subchapter D, Chapter 49, Education Code, is   amended by adding Section 49.1574 to read as follows:           Sec.   49.1574.     CREDIT FOR OPTIONAL HOMESTEAD EXEMPTION. (a)     The total amount required under Section 49.153 for a school   district to purchase attendance credit under this subchapter for   any school year is reduced by an amount equal to the total dollar   amount of residence homestead exemptions the district grants under   Section 11.13(n), Tax Code, for that school year, less any amount:                 (1)     the district receives under Chapter 48 that is   attributable to Section 48.259; or                 (2)     by which the district's local revenue level is   reduced to account for those exemptions.           (b)     A reduction under Subsection (a) shall be made after   making any reduction to which the district is entitled under   Section 49.157 or another provision of this chapter.          SECTION 2.  This Act takes effect September 1, 2025.