(a) Of the money distributed to the available school fund each year under Section 5(g), Article VII, Texas Constitution, the amount that exceeds the first $300 million is considered part of the tax reduction and excellence in education fund.
(b) Money considered part of the fund as described by Subsection (a) may be appropriated only to pay the cost of tier one allotments under Chapter 48.
Official text of the Texas Education Code as published by the Texas Legislative Council.