House Bill 3

Thu
30
May

School finance bill awaits Gov's signature

From staff reports

The Texas House and Senate approved legislation Sat. May 25 ushering in teacher pay raises and property tax cuts. HB 3 was passed just days prior to the end of the 86th Texas Legislative Session Monday, May 27 in Austin.

The passage of HB 3 by both the Texas House and Senate followed a related property tax reform bill, SB 2 (See story, Page 1A), which passed just days earlier.

The measure would involve more than $6.5 billion in funding to improve public education and teacher pay. Another $5.1 billion would lower school district taxes overall.

With Gov. Greg Abbott's signature, the law would lower tax rates by an average of 8 cents per $100 valuation in 2020 and 13 cents per $100 valuation in 2021. The tax cut of $200 for

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