Texas School Finance Ruling May Prompt Tax Reform

Law360, Houston (February 4, 2013, 11:14 PM EST) -- A Texas judge on Monday ruled that state public education is inadequately and unevenly funded through an unconstitutional statewide property tax, in a decision that pushes lawmakers one step closer to being forced to reform the state’s tax code.

Travis County District Judge John Dietz held that the funding system, which uses a “Robin Hood” property tax mechanism, violates “efficiency provisions” of the Texas Constitution by failing to provide equal access to tax revenue and to ensure public schools are funded at sustainable levels.

“The court...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.