Tuesday, June 21, 2005

Where they stand on school finance


Tuesday, June 21, 2005

The House and Senate each passed school finance plans during the regular session but could not agree on a final measure. Key positions in plans pushed during the session included:


•Cut maximum rate for school property taxes from $1.50 to $1 in fall 2006.

•Require companies to pay current corporate franchise tax or new payroll tax.

•Raise state sales tax by 1 cent and extend it to car repairs and bottled water.

•Raise cigarette tax by $1.01 per pack.

•Include $3 billion in budget for education spending.


•Cut maximum rate for school property taxes from $1.50 to $1.15 this fall and $1.10 in 2006.

•Rework corporate franchise tax to tax net corporate income plus a fraction of payroll.

•Raise state sales tax by half a cent.

•Raise cigarette tax by 75 cents per pack; raise alcohol excise taxes by 13 percent.

•Generate about $2.5 billion for education with methods including one-time fund transfers and requiring companies to pay corporate franchise tax.

Gov. Rick Perry

•Publicly offered few specifics during the regular session about school finance plans he supported.

•Reportedly wants to increase state sales tax by seven-tenths of a cent and extend it to car repairs and cosmetic surgery during special session.

•Said special session should address property tax cuts, teacher pay, textbook funding, charter schools and changes to the share-the-wealth finance system, among other things.


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