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Perryton ISD board approves request for additional state aid tied to Chapter 313 tax agreement
Summary
Trustees voted to request additional state aid under an existing Chapter 313 agreement to capture tax credits tied to a large private investment; board discussion described the payment as M&O-only and referenced an estimated $300 million investment.
The PERRYTON ISD Board of Trustees voted to approve a request for additional state aid connected to a Chapter 313 agreement for a large private investment in the district.
Board discussion described the mechanism as a Chapter 313 arrangement that limits value reductions to maintenance-and-operations (M&O) tax calculations. One trustee summarized the effect: the district values the private investment and the state calculates what the district would otherwise have received and sends the district an offsetting payment. “With a chapter 3 13 agreement like this, the district and other taxing entities in the county will give a tax credit…for M and O purposes only,” a trustee said. That same speaker described an estimated $300,000,000 investment used to calculate the amount the district would otherwise receive.
A board member asked how many years remain before the tax credits expire; another replied that the credits expire next year. The board debated valuation and depreciation methodology and a trustee commented that the original depreciation calculation may have been incorrect. A district staff member identified as Bill Sachs was mentioned but declined to speak.
The board moved to approve the request for additional state aid tied to the Chapter 313 agreement; the motion passed with an affirmative voice vote (numeric tally not specified in the transcript).
The board noted the request must be submitted annually to receive the state’s payment. The transcript records that the board expects a state administrative process after the local request; no dollar amount of aid to be received by the district was listed at the meeting.
