McKinney Chamber Supports Vote FOR the MISD Attendance Credit Election
McKINNEY, TX (March 5, 2020) – In late 2019, the McKinney ISD Board of Trustees authorized a special attendance credit election that is scheduled to be held on May 2. This election calls on citizens to vote either for or against the method by which the MISD makes mandatory payments to the state.
The ballot measure, called an attendance credit election, is required due to changes brought about by Texas House Bill 3 this past year.
MISD is considered a high property wealth school district by the state. As a result, the state “recaptures” a portion of the school district’s local tax revenue, and those funds are ultimately redistributed to low property wealth school districts through legislation that passed in 1993 commonly referred to as the Robin Hood law.
Simply put, McKinney ISD has been making recapture payments since the 2014-2015 school year by “purchasing attendance credits” – essentially swapping dollars for kids who aren’t attending our schools, bringing the district in line with the appropriate wealth level per child – determined by the State of Texas.
A vote “for” the measure will authorize the McKinney ISD Board of Trustees to continue doing exactly what it has been doing since 2014.
Alternatively, a vote “against” will deny the board authorization to do that, and, in turn, allow the state to detach commercial property from our local tax base and add those properties’ revenues to another district with lower property wealth. In the case of the MISD, that would mean the state would be authorized to detach $2.3 billion from the property tax base – a change, according to the MISD, that will likely be permanent. A vote “against” would also lead to a higher Interest and Sinking (I&S) tax in the future.
We encourage the community to vote “for” the measure.
About the McKinney Chamber of Commerce: The Chamber currently represents over 1,400 business members making it the third largest Chamber of Commerce in the Metroplex, and has been recognized as a 5-star accredited Chamber by the U.S. Chamber of Commerce, an achievement only 1% of Chambers have earned nationwide. As our community and region continue to grow, the McKinney Chamber plays an increasing role in developing and improving the economic health and business environment critical to the success of our member businesses.
Our mission: “To Lead, Connect, and Empower our Stakeholders to Advance Business and Community Excellence”
For more information: www.mckinneychamber.com. Follow us on Facebook.