DALLAS -- Texas officials said yesterday that plans to revamp a proposed $750 million revenue bond bank for school facilities appear dead as lawmakers focus instead on directly subsidizing debt payments by the poorest school districts.

State Sen. Teel Bivins, R-Amarillo, said he will propose a $50 million annual program to help districts with small property tax bases to fund capital programs. That, he said, would be more cost-effective than issuing revenue bonds for a bond bank, the alternative some lawmakers have been discussing since voters rejected the earlier bond bank plan and its general obligation issuance on May 1.

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