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The Robin Hood Plan is a colloquialism given to a provision of Texas Senate Bill 7 (73rd Texas Legislature) (the provision is officially referred to as "recapture"), originally enacted by the U.S. state of Texas in 1993 (and revised frequently since then) to provide equity of school financing within all school districts in the state of Texas.
Plano has given $1.2 billion in property tax revenue to other school districts through Texas's "Robin Hood" law, which requires school districts designated as affluent to give a percentage of their property tax revenue to other districts outside the county. [79] In 2008, PISD gave $86 million.
The Robin Hood plan is a controversial tax redistribution system that provides court-mandated equitable school financing for all school districts in the state. Property tax revenue from property-wealthy school districts is distributed to those in property-poor districts, in an effort to equalize the financing of all districts throughout Texas.
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The Edgewood district is most notable as the original plaintiff in a Texas court case which led to the "Robin Hood" school finance plan (which was itself later ruled unconstitutional). [citation needed] The district has sued the state government regarding its school financing since 1984. [1]
The company's fourth-quarter revenue climbed 115% from the same period in 2023 to $1.01 billion, beating Wall Street's expectations of $940.8 million. Robinhood's stock surged over 15% in after ...
Robinhood released its first quarter earnings on April 28, revealing that revenue decreased 43%. Following the news, the stock took a huge hit, and was down 10.4% in pre-market trading April 29....
In 1989 MALDEF won in Edgewood Independent School District v. State of Texas. The Texas Supreme Court found the state's financing of education unconstitutional and ordered the legislature to change it. [4] This led to the "Robin Hood" funding system, where wealthier school districts had to give to a fund for poorer districts.