THE TEXAS HOUSE & SENATE PRESENT:
FOR TRANSFORMATIONAL SCHOOL FINANCE REFORM
THE PLAN
$4.5 Billion
for transformational education reforms
PUTS MORE MONEY INTO CLASSROOMS TO ACCELERATE STUDENT ACHIEVEMENT
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Significantly increases the Basic Allotment per student
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Funds full-day Pre-K for low income students
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Adopts high-quality K-3 reading standards so students read at grade level by 3rd grade
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Creates the first dyslexia identification program in Texas history
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Accelerates student achievement via College, Career & Military Readiness (CCMR) outcomes bonuses, dual-language programs, and extended year summer programs for students
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Creates a "Do Not Hire" registry to protect children in the classroom
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Funds transportation at a rate of $1.00/mile and quadruples funding for building and equipping new facilities
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Directs more funds to schools with higher concentrations of under-served students, including dropouts, students in special education, and residential treatment facilities
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And more!
Over $5 Billion
in property tax relief
INCREASES THE STATE'S SHARE OF EDUCATION FUNDING TO LOWER PROPERTY TAXES
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Provides over $5 billion in statewide property tax relief
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Lowers school property tax rates by an average of 8 cents in 2020 and 13 cents in 2021
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Provides an additional 2.5% tax compression starting in 2021
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Ensures taxpayer dollars are used responsibly by requiring districts to conduct efficiency audits before going to voters with a tax increase
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Increases the state's share of education funding from 38% to 45%
$3.6 Billion
recapture reduction*
*Not an appropriation. The reduction in recapture is a cumulative effect of the $11.6B investment made in HB 3 to buy down property taxes and reform school finance formulas.
MODERNIZES OUTDATED SCHOOL FINANCE FORMULAS TO REDUCE RECAPTURE
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Reduces recapture payments by $3.6 billion, a 47% reduction this biennium
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Increases equity within the school finance system
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Gives ISDs the ability to keep more of the money they earn from their local property taxes
$2 Billion
for dynamic teacher compensation
ENERGIZES TEACHER PAY & INVESTS IN PROGRAMS TO PROMOTE TEACHER QUALITY
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Compensates educators as true professionals by unleashing over $2 billion in dynamic pay raises for teachers, librarians, counselors, and nurses
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Creates a merit/incentive pay program for high-quality educators to receive additional pay
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Increases the minimum teacher salary schedule
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Invests in professional development and mentoring programs for new teachers