Austin (KXAN) — On Tuesday, state leaders gathered as Governor Greg Abbott signed House Bill 3 into law, a landmark public education finance reform bill.

In 2006, the Legislature erased a big chunk of school property taxes for homeowners across the state and replaced the lost revenue for schools with new business taxes, an increased cigarette tax and a revamped motor vehicle tax, among other sources. Teachers, librarians, counselors and nurses received a $2,000 pay raise.

A key Texas Senate panel agreed Thursday to spend $9 billion on public education and property tax relief, matching the amount approved by the House hours earlier. The two spending plans differ on how to slice up that multi-billion-dollar pie, however.

The Texas Taxpayers and Research Association (TTARA) issued the following statement today regarding House Bill 3, the school finance reform bill, by state Rep. Dan Huberty, chairman of the House Public Education Committee.

FOR IMMEDIATE RELEASE MARCH 5, 2019 Contact: Kirsten Voinis (512) 922-7141, kvoinis@kvoinis.com TTARA statement on House Bill 3 (school finance reform) The Texas Taxpayers and Research Association (TTARA) issued the following statement today regarding House Bill 3, the school finance reform bill, by state Rep. Dan Huberty, chairman of the House Public Education Committee. The…