Tex. Educ. Code § 46.004 · Subchapter A. INSTRUCTIONAL FACILITIES ALLOTMENT
LEASE-PURCHASE AGREEMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A district may receive state assistance in connection with a lease-purchase agreement concerning an instructional facility. For purposes of this subchapter:
(1) taxes levied for purposes of maintenance and operations that are necessary to pay a district's share of the payments under a lease-purchase agreement for which the district receives state assistance under this subchapter are considered to be bond taxes; and
(2) payments under a lease-purchase agreement are considered to be payments of principal of and interest on bonds.
(b) Section 46.003(b) applies to taxes levied to pay a district's share of the payments under a lease-purchase agreement for which the district receives state assistance under this subchapter.
(c) A lease-purchase agreement must be for a term of at least eight years to be eligible to be paid with state and local funds under this subchapter.
Notes and commentary — not statutory text
History
Added by Acts 1997, 75th Leg., ch. 592, Sec. 1.04, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 396, Sec. 1.25, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/ED/htm/ED.46.htm
- Text hash
- sha256 33ff31861c84b542486b711b122fbfc7c0287617dc38e4f269e26ea77ef2ac73
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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