Standards of Quality; requires G.A. to modify current funding formula, etc. of composite index. (HB1702)

Introduced By

Del. Scott Lingamfelter (R-Woodbridge)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Education; computation of composite index. Requires the General Assembly to modify the current Standards of Quality (SOQ) funding formula and calculation of composite index of local ability to pay to incorporate within the real estate indicator of local wealth the land-use taxation value for those properties within a land-use plan. The current composite index of local ability to pay incorporates the "true value" of real property (rather than any special use assessed values) weighted 50%, with adjusted gross income weighted at 40%, and taxable retail sales weighted at 10%, as indicators of local wealth. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
12/15/2006Committee
12/15/2006Prefiled and ordered printed; offered 01/10/07 072304380
12/15/2006Referred to Committee on Education
01/15/2007Assigned Education sub: Standards of Quality (Lingamfelter)
01/16/2007Impact statement from DPB (HB1702)
01/17/2007Referred from Education
01/17/2007Referred to Committee on Appropriations
01/22/2007Assigned App. sub: Elementary and Secondary Education (Tata)