Thursday, July 24, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
HB1702: Standards of Quality; requires G.A. to modify current funding formula, etc. of composite index.
Chief Patron
Del.
Scott Lingamfelter (R-31)
Scott Lingamfelter
(R-31)
Woodbridge, VA
Served: 2002–
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Status
Bill is Dead
Summary
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. View Full Text »
Poll Results
No Richmond Sunlight visitors voted on this bill while voting was open.
