GOVERNOR ABBOTT SIGNS LANDMARK LEGISLATION TO REFORM SCHOOL FINANCE, INCREASE TEACHER PAY, AND PROVIDE PROPERTY TAX RELIEF

A press release from the Governor’s Office, reports that Governor Greg Abbott Tuesday signed into law landmark legislation to reform school finance, increase teacher pay, and provide property tax relief.

According to the release, House Bill 3 creates an incentive pay program for teachers, adds career, college, and military readiness bonuses for school districts, funds full-day prekindergarten for students in poverty, and requires all elementary school principals and teachers in kindergarten through third grade be trained on science-based reading instruction by 2021. The bill also creates a student-focused formula structure, where the needs of a child – not the child’s zip code – will determine funding allocations. Additionally, the bill buys down property tax rates by an average of 8 cents in 2020 and implements a 2.5% property tax cap starting in 2021, which will result in an average tax rate reduction of 13 cents this biennium.

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