April 22, 2004
FOR IMMEDIATE RELEASE

Texas Governor Unveils School Finance Plan. Republican Governor Rick Perry has unveiled his proposal to revamp funding for Texas public schools. Draft legislation was laid out before the 29-member House Select Committee yesterday. He also presented a draft constitutional amendment to implement his school finance proposal.

Perry's plan proposes a $6 billion school property tax cut, coupled with an extra $2.5 billion for Texas schools. Specifics of the proposal include creating a separate tax structure for businesses and homeowners, putting a cap on property appraisals, cutting school property taxes by an average of 17 percent, increasing cigarette taxes, legalizing slot machines and taxing admission to topless bars.

The special session, which began Tuesday, was called by Governor Perry in order to overhaul the current "Robin Hood" school finance system.

If you have any questions regarding this information, please call Mr. G. Brint Ryan, Managing Principal of Ryan & Company, at 972.934.0022. Mr. Ryan can also be reached by e-mail.

<< Back to Tax Developments