89R1658 KJE-D     By: Dorazio H.J.R. No. 76       A JOINT RESOLUTION   proposing a constitutional amendment appropriating certain surplus   revenue for school district bond debt.          BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Article VII, Texas Constitution, is amended by   adding Section 3-a to read as follows:          Sec. 3-a.  (a)  For the state fiscal year beginning September   1, 2026, the following amounts of money are appropriated from the   specified source to the Texas Education Agency or its successor in   function for distribution to school districts to pay debt service   on bonds supported by ad valorem taxes as provided by this section:                (1)  an amount of money equal to one-half of the amount   by which the estimated amount of total available general revenue   anticipated to be received in the state fiscal biennium beginning   September 1, 2025, as reported in the statement required of the   comptroller by Section 49a, Article III, of this constitution,   exceeds the amount of revenue that may be spent for that biennium in   accordance with Section 22, Article VIII, of this constitution is   appropriated from the general revenue fund; and                (2)  an amount of money equal to one-half of the   unobligated balance of the economic stabilization fund on September   1, 2025, is appropriated from the economic stabilization fund.          (b)  Money appropriated by this section shall be distributed   proportionately to each school district based on the number of   students enrolled in the district who are lawfully present in the   United States.          (c)  Subject to Subsection (d) of this section, a school   district must use money distributed under this section to pay debt   service on bonds supported by ad valorem taxes, prioritizing bonds   with the highest interest rates.          (d)  A school district that receives more money under this   section than the district owes on bonds issued by the district that   are supported by ad valorem taxes shall use the money in the   following order:                (1)  to pay off debt attributable to bonds issued by the   district that are supported by ad valorem taxes, if any; and                (2)  to pay for capital improvements.          (e)  A school district that accepts money distributed under   this section may not issue bonds supported by ad valorem taxes   during the 10-year period that begins on the date on which the   district accepts the money.  A school district may decline money   distributed under this section.          (f)  For purposes of Section 22, Article VIII, of this   constitution, the appropriation under this section is an   appropriation of state tax revenues dedicated by this constitution.          (g)  This section expires September 1, 2039.          SECTION 2.  This proposed constitutional amendment shall be   submitted to the voters at an election to be held November 4, 2025.   The ballot shall be printed to permit voting for or against the   proposition: "The constitutional amendment appropriating certain   surplus revenue for school district bond debt."