The Texas Association of School Boards reports that Texas leaders have reached a deal on school finance and property tax reform. House Bill 3 is said to increase public education funding by $4.5 billion. According to a summary of Senate Bill 3 drafted by the House and Senate, the legislation will put more money into classrooms, increase the State’s share of education funding to lower property taxes, modernize outdated school finance formulas to reduce recapture, and will energize teacher pay and invest in programs to promote teacher quality.
