AUSTIN, TX — Governor Abbott, Lt. Governor Dan Patrick and Speaker Dennis Bonnen held a joint news conference at the Governor's mansion Thursday afternoon.
"We are no longer funding on the basis of school district, but on the needs of our schools," said Governor Abbott.
The governor announced the new bill would provide nearly $5 billion in statewide funding.
According to Lt. Gov. Dan Patrick, "It's very complicated and complex, people said it couldn't be done. Last night, we were in governor's office to agree on the final details of HB 3."
He said all veteran teachers, on average, will see an average of a $4,000 pay raise.
They are adding a month of school in July on voluntary basis. Teachers who want to participate will see an extra month of earnings.
"When no one cares about credit, it's amazing what can be done," said Lt. Gov. Patrick.
Governor Abbott said, "We're here today to deliver on our commitment, our promise." He said $4.5 billion will go directly towards classrooms to schools.
They are making sure low income families will all have access to Pre-K.
Governor Abbott said he is proud of those who worked so aggressively on the bill. He said they are not here because of a lawsuit or court order and that it resolves equity. He said students will know Texas leaders care about the funding and quality of their education.
Governor Abbott said the bill will reduce recapture by 47 percent for wealthier school districts that raise over the amount necessary for their district.
BREAKING: We are about to announce agreement on all the big issues this legislative session. More than $5 billion in property tax reduction (more each biennium) + limits on ability to raise your property taxes more. More funding for schools + teacher pay raises. #txlege— Greg Abbott (@GregAbbott_TX) May 23, 2019