Bill > HJR76

This joint resolution proposes a constitutional amendment that would appropriate surplus state revenue to help school districts pay off bond debt for the state fiscal year beginning September 1, 2026. The funding would come from two sources: half from the estimated general revenue that exceeds spending limits, and half from the unobligated balance of the economic stabilization fund (often called the "rainy day fund"). School districts would receive these funds proportionally based on their student enrollment, and they must use the money primarily to pay debt service on bonds supported by ad valorem (property) taxes, prioritizing bonds with the highest interest rates. If a district receives more money than its bond debt, it can use the excess for paying off additional bond debt or funding capital improvements. Importantly, districts accepting these funds would be prohibited from issuing new ad valorem tax-supported bonds for 10 years, though they can choose to decline the money. The provision would expire on September 1, 2039, and would be submitted to voters for approval in a November 4, 2025 election.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HJR76