Texas § ED.45.253 - LIMITATION ON INTERCEPT CREDIT ENHANCEMENT
Full text of Texas The Texas Constitution § ED.45.253 — LIMITATION ON INTERCEPT CREDIT ENHANCEMENT, with citation guidance and answers to common questions.
§ ED.45.253. LIMITATION ON INTERCEPT CREDIT ENHANCEMENT
LIMITATION ON INTERCEPT CREDIT ENHANCEMENT. (a) In each month of each fiscal year, the commissioner shall determine the amount of funds available to make payments under this subchapter from the Foundation School Program through the end of the fiscal year and the amounts due under this code to public schools from the Foundation School Program through the end of the fiscal year. The commissioner may revise a determination under this subsection during the fiscal year as appropriate. (b) The commissioner may not endorse particular bonds for credit enhancement under this subchapter until the commissioner has: (1) made the determinations required under Subsection (a); and (2) determined that the endorsement will not cause the projected debt service coming due during the remainder of the fiscal year for bonds provided credit enhancement under this subchapter to exceed the lesser of: (A) one-half of the amount of funds due to public schools from the Foundation School Program for the remainder of the fiscal year; or (B) one-half of the amount of funds anticipated to be on hand in the Foundation School Program to make payments for the remainder of the fiscal year. (c) The commissioner may not endorse particular bonds for credit enhancement under this subchapter unless the commissioner has determined that the maximum annual debt service on the bonds during any state fiscal year will not exceed the lesser of: (1) one-half of the amount of funds due to public schools from the Foundation School Program for the current fiscal year; or (2) one-half of the amount of funds anticipated to be on hand in the Foundation School Program to make payments for the current fiscal year. Added by Acts 2009, 81st Leg., R.S., Ch. 1328 (H.B. 3646 ), Sec. 75, eff. September 1, 2009.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § ED.45.253
What does The Texas Constitution § ED.45.253 cover?
Section ED.45.253 ("LIMITATION ON INTERCEPT CREDIT ENHANCEMENT") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § ED.45.253?
A common citation format is "The Texas Constitution § ED.45.253" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § ED.45.253 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.