Relating to an adjustment for certain school districts under the public school finance system for revenue lost due to the use of the state value of the district's taxable value of property determined by the comptroller of public accounts.

SB 435 adjusts state funding for Texas public school districts that use the state-determined value (instead of local property value) when calculating their taxable property value for school finance purposes. It requires the state education agency to calculate whether a district would receive more state aid using local property value, and if so, provides a phased refund: 75% of the difference in the first year, 50% in the second, and 25% in the third consecutive year. This adjustment applies only to districts already using the state value method under existing law and lasts no more than three consecutive school years. After three years, districts must use local value again to requalify for future adjustments.