Texas HB 4452: Relating to the creation of the attendance credit receipts fund.

Bill Text

By:AAMeyer H.B.ANo.A4452
A BILL TO BE ENTITLED
AN ACT
relating to the creation of the attendance credit receipts fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTIONA1.AASection 49.154(b), Education Code, is amended to
read as follows:
(b)AAReceipts shall be deposited in the state treasury to the
credit of the attendance credit receipts fund under Section 49.1541
[and may be used only for foundation school program purposes].
SECTIONA2.AASubchapter D, Chapter 49, Education Code, is
amended by adding Section 49.1541 to read as follows:
Sec.A49.1541.AAATTENDANCE CREDIT RECEIPTS FUND. (a) The
attendance credit receipts fund is created as a fund in the state
treasury, administered by the comptroller.
(b)AAThe 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)AAMoney deposited to the attendance credit receipts fund
may only be used for foundation school program purposes.
SECTIONA3.AAAs 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
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1

date of this Act.
SECTIONA4.AAThis Act takes effect December 1, 2021.
1
2
H.B.ANo.A4452
2