House Bill 3


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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