A Deal on Texas School Finance, Dewhurst Says

Morgan Smith:

Lt. Gov. David Dewhurst said leaders in the House and Senate had agreed on a school finance plan as he left a meeting with education and budget chiefs from both chambers.
As expected, it is the “hybrid of a hybrid” Sen. Florence Shapiro described. All districts would take what will likely be a 6 percent across-the-board reduction in the first year, the approach pushed by the House. In the second year, Shapiro’s SB 22 would take effect: 75 percent of the remaining $2 billion reduction in state funding would come from cutting property wealthy, target revenue districts; all districts would bear cuts to make up the that last 25 percent.
During the 2013 session, Shapiro said lawmakers will adjust the school funding formulas once again based on the money available. The current plan contains a 2018 deadline for the phase out of target revenue, but as Shapiro pointed out, there are three legislative sessions between then and now.