10:57 AM CDT on Wednesday, July 7, 2004

Associated Press

Time is running out for Texas lawmakers to overhaul the state school finance system before the next regular legislative session.

An aide to Governor Rick Perry tells the Fort Worth Star-Telegram that the Republican remains optimistic the Legislature can devise a new finance plan this year.

But Perry aide Robert Black says the window of opportunity for a major overhaul this year is beginning to close.

Lawmakers already have failed once to devise an alternative plan during a spring special session. But Perry says he'd call lawmakers back to the Capitol for another try when legislative leaders can agree on an alternative plan.

But any significant change would require amendments to the state constitution. If the Legislature doesn't pass any proposed amendment by August, they won't be able to go before voters this year.